Maximum Likelihood Estimation (MLE) Maximum Likelihood Estimation (MLE) is a statistical method used to estimate the parameters of a probabilistic model such that the observed data is most probable under the model. This approach works… Maximum Likelihood Estimation: A Comprehensive Guide with Examples
Random variables are essential components in probability theory and statistics, serving as numerical outcomes of random phenomena. Understanding the behavior of random variables allows practitioners to make informed decisions about the likely outcomes of complex… Random Variable
The classical probability definition calculates the likelihood of an event based on favorable and total outcomes, illustrated with examples.
In a magical kingdom, training pigs to fly with brooms results in a 15% success chance; expected flying pigs are 4.5, with varied probabilities.
This song helps us better remember the properties of the normal distribution. A normal distribution, also known as a Gaussian distribution, is a symmetrical, bell-shaped continuous probability distribution characterized by its mean (?) and standard deviation (?). It exhibits properties such as symmetry, unimodality, and follows the 68-95-99.7 rule, indicating the distribution of data within standard deviations of the mean.
Question: In the context of economics, what is the primary characteristic of events that makes them suitable for modeling with a Poisson distribution?A) Events are dependent on each otherB) Events occur at a constant average… Quizzes: Poisson Distribution
Quizzes In an economic context, a Bernoulli distribution can be used to model:a. The distribution of income across a populationb. The probability of a consumer making a purchase or notc. The stock market index changesd.… Bernoulli distribution
Question: What does a covariance of zero between two random variables and indicate?A) and are independent.B) and are uncorrelated.C) and are dependent.D) and have the same variance. Question: If , what does this indicate about… quizzes: covariance
Question: What is the variance of a fair six-sided die roll?A) 2.5B) 3.5C) 2.9167D) 1.5 Question: If is a random variable with variance , what is ?A) 4B) 8C) 16D) 2 Answer: C) 16 Question:… Quizzes: variance
Question: What is the expected value of a fair six-sided die roll?A) 2.5B) 3.5C) 4.5D) 5.5 Question: If is a random variable with expected value , what is ?A) 2B) 4C) 6D) 8 Question: What… Quizzes: expectation
Question 1:The time between arrivals of buses at a bus stop follows an exponential distribution with a mean of 10 minutes. What is the probability that a bus will arrive within the next 5 minutes?… Quizzes: Exponential Distribution
The Uniform Distribution is a type of probability distribution in which all outcomes are equally likely. It’s a continuous distribution, meaning that it takes on an uncountable number of possible values. For any given interval… Uniform distribution
Question: If the probability of using Facebook is 0.6 and the probability of using Instagram is 0.5, and these events are independent, what is the probability of using both Facebook and Instagram?Options:A) 0.3B) 0.9C) 0.5D)… Quizzes: independent events
Question: A music streaming service offers songs in three genres: Pop, Rock, and Jazz. The probability of a song being Pop is 0.5, Rock is 0.4, and Jazz is 0.3. If the probability of a… Quizzes: addition rules of probability
A combination is a selection of items from a larger set, where the order of selection does not matter. For example, suppose you have a set of three different fruits: Apple (A), Banana (B), and… Combinations
What is the population in the context of a movie rating study?A) All movies ever madeB) All movie reviewersC) The set of movies included in the studyD) All people who watch movies If a survey… Quizzes: Population vs Sample
Question: An engineer has 4 different types of screws and 3 different types of bolts. How many different combinations of screws and bolts can the engineer choose from?a) 7b) 12c) 4d) 3 Question: A circuit… Quizzes about the product rule
In probability theory and statistics, two events are said to be mutually exclusive if they cannot occur at the same time. In other words, the occurrence of one event excludes the occurrence of the other.… Mutually Exclusive Events
Example: password generation. Suppose you are generating a password using the characters A, B, and C. The password must be 3 characters long, and each character can be used once. Here, the S-permutation will be… s-Permutation
Question 1: There are 4 different types of shirts and 3 different types of pants. How many different outfits can you make with one shirt and one pair of pants? A. 7B. 10C. 12D. 15… Quizzes about the product rule
More quizzes In a survey, 80% of respondents prefer Brand A over Brand B. If a respondent is selected at random, what is the probability that they prefer Brand B? In a quality control test,… Quizzes: Complementary rules of probability
If you flip a fair coin, what is the probability that it will land on heads? In a class of 30 students, 18 are girls and 12 are boys. What is the probability that a… Quizzes: Classical definition of probability
This song helps us better remember the properties of the exponential distribution. The exponential distribution models time between events in a Poisson process, where occurrences are independent at a constant rate. Key features include its probability density and cumulative distribution functions, mean, variance, and memoryless property. It has applications in queueing theory, reliability engineering, and survival analysis.
I advised a master’s student to use the binomial probability formula to determine the likelihood of attracting the affection of 15 girls, with Cupid’s success rate at 0.7. The analysis shows that the highest probability of success occurs when 10 girls reciprocate love, with a probability of 0.33.
Supplementary materials for section Grazing the maze of probability & A random variable mood in the KSML app: Basic rules of probability: Mutually exclusive events Conditional probability for medical testing in a forestThe conditional probability… Grazing the maze of probability
My all time favourite catch is “JERRY catching TOM!” ? Little Jerry is so smart, and do you know that he knows probability as well? One day, Jerry was thinking, “Hmm, every time Tom chases… The conditional probability of Tom finding Jerry
Here, we denote by the event NOT . Example 1: Magical Investment Returns In the magical forest, gnomes invest in enchanted acorns, which sometimes turn into golden trees. A gnome named Glim invests in an… Bayes theorem in finance of a magical forest
Here, we denote by the event NOT . Example 1: Squirrel Flu Testing In a forest, a group of squirrels is concerned about a new illness called “Squirrel Flu.” It’s more dangerous than the ordinary… Conditional probability for medical testing in a forest
First, it’s easier to understand & remember the keys properties of multivariate normal distribution by understanding the Mahalanobis distance. So, to start, recall that the Mahalanobis distance is a measure of the distance between a… Tricks for remembering formulas & properties of multivariate normal distribution
Mutually exclusive events are events that cannot occur at the same time. In other words, the occurrence of one event excludes the occurrence of the other. Here are some examples:
A permutation refers to the arrangement of objects in a specific order. The order of arrangement is important in permutation. A permutation let us know how many different ways a set or number of things… Permutation