Probability: The Study of Randomness

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Probability: The Study of Randomness

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CHAPTER OUTLINE

  • 4.1 Randomness

  • 4.2 Probability Models

  • 4.3 Random Variables

  • 4.4 Means and Variances of Random Variables

  • 4.5 General Probability Rules

Introduction

The reasoning of statistical inference rests on asking, “How often would this method give a correct answer if I used it very many times?” When we produce data by random sampling or randomized comparative experiments, the laws of probability answer the question, “What would happen if we did this many times?” Games of chance like Texas hold ’em are exciting because the outcomes are determined by the rules of probability.