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It is the likelihood of any particular event occurring.
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∙ 10y ago
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What is probability of death?
Statistically speaking; a sure thing.
How probability useful in whether forecasting?
Most people are not statistically trained so the probability of whether or not you are forecasting is so close to 0 that knowing its value is of little help.
What does it mean for the finding of a statistical analysis of data to be statistically significant?
Data is statistically significant if the p (probability) value is below a certain level (ex: 5% or 1%). The p value describes how often one would receive the results they got if left to chance alone. The lower the p value, the less likely it is that your results were due to chance and is stronger evidence against the null hypothesis. Also important to keep in mind is that just because something is statistically significant does not mean it is practically significant.
If it is statistically significant does that automatically mean it is managerially significant?
No, it is not.
What does it mean to find the probability of an event?
Read the introduction to probability and probability measures at StatLect.com
What is probability of death?
Statistically speaking; a sure thing.
How probability useful in whether forecasting?
Most people are not statistically trained so the probability of whether or not you are forecasting is so close to 0 that knowing its value is of little help.
What is the relationship between conditional probability and the concept of statistical independence?
If events A and B are statistically indepnedent, then the conditional probability of A, given that B has occurred is the same as the unconditional probability of A. In symbolic terms, Prob(A|B) = Prob(A).
What does it mean for the findings of a statistical analysis of data to be statistically significant?
Data is statistically significant if the p (probability) value is below a certain level (ex: 5% or 1%). The p value describes how often one would receive the results they got if left to chance alone. The lower the p value, the less likely it is that your results were due to chance and is stronger evidence against the null hypothesis. Also important to keep in mind is that just because something is statistically significant does not mean it is practically significant.
What does it mean for the finding of a statistical analysis of data to be statistically significant?
Data is statistically significant if the p (probability) value is below a certain level (ex: 5% or 1%). The p value describes how often one would receive the results they got if left to chance alone. The lower the p value, the less likely it is that your results were due to chance and is stronger evidence against the null hypothesis. Also important to keep in mind is that just because something is statistically significant does not mean it is practically significant.
If it is statistically significant does that automatically mean it is managerially significant?
No, it is not.
What does fair mean from a probability perspective?
From a probability perspective fair means equal probability.
What does it mean to find the probability of an event?
Read the introduction to probability and probability measures at StatLect.com
What does and mean in probability?
It means multiply, Probaility of A and B means probability of A multiplied by probability of B.
The mean of a binomial probability distribution can be determined by multiplying?
The mean of a binomial probability distribution can be determined by multiplying the sample size times the probability of success.
Is there a movie in the 80's where a woman is ravished while unconscious?
Statistically, this is true in all probability, since this kind of salacious scene would tend to sell tickets.
What does probability level mean?
The probability level for an outcome is the probability that the outcome was at least as extreme as the one that was observed.
