Maximum Likelihood Estimation: A Comprehensive Guide with Examples
Kurious Fox Maximum Likelihood Estimation (MLE) Maximum Likelihood Estimation (MLE) is a statistical method used to estimate the parameters of…
grazing the maze of probability
Random Variable
Random variables are essential components in probability theory and statistics, serving as numerical outcomes of random phenomena. Understanding…
Classical Probability: History & Key Concepts Explained
The classical probability definition calculates the likelihood of an event based on favorable and total outcomes, illustrated with…
Binomial distribution: Pigs Can Fly
In a magical kingdom, training pigs to fly with brooms results in a 15% success chance; expected flying…
normal distribution song
This song helps us better remember the properties of the normal distribution. A normal distribution, also known as…
Quizzes: Poisson Distribution
Question: In the context of economics, what is the primary characteristic of events that makes them suitable for…
Bernoulli distribution
Quizzes In an economic context, a Bernoulli distribution can be used to model:a. The distribution of income across…
quizzes: covariance
Question: What does a covariance of zero between two random variables and indicate?A) and are independent.B) and are…
Quizzes: variance
Question: What is the variance of a fair six-sided die roll?A) 2.5B) 3.5C) 2.9167D) 1.5 Question: If is…
Quizzes: expectation
Question: What is the expected value of a fair six-sided die roll?A) 2.5B) 3.5C) 4.5D) 5.5 Question: If…