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The answer depends on what you are trying to predict. Suppose you have a discrete random variable X with a probability density function p(X) = prob(X = x), then the expected value of a function f(X) of X is the sum of f(x)*p(x), summed over all possible values of x. For a continuous variable, the procedure is similar, except that you need to integrate rather than sum.
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What is the difference between theoretical probability and empirical probabilities?
empirical probability is when you actually experiment with it and get data values, and theoretical probability is when you use math to make an educated guess.
How can probability be used to make predictions?
Well... with what I learned from Mrs. Franks, mt math teacher, she said for weather. For example there with be a probability of 75 degrees today.
How can you make theoretical probability more accurate?
By ensuring your model is as good as it can be. Make sure that any assumptions that you make for your model are justified and, if necessary, properly reflected in the model.
Why do you need probability in real life?
Because there are many events whose outcomes cannot be determined. However, using probability it may be possible to make a good estimate as to the outcome.Because there are many events whose outcomes cannot be determined. However, using probability it may be possible to make a good estimate as to the outcome.Because there are many events whose outcomes cannot be determined. However, using probability it may be possible to make a good estimate as to the outcome.Because there are many events whose outcomes cannot be determined. However, using probability it may be possible to make a good estimate as to the outcome.
What actually occurs in a probability experiment?
In a probability experiment, various outcomes are possible and the experiment is conducted to observe which outcomes occur. The experiment is performed repeatedly to collect data and determine the likelihood or probability of each outcome happening. The results of the experiment are analyzed to understand and make predictions about future occurrences of the event.
