Join Eddie Davila for an in-depth discussion in this video Next steps, part of Statistics Foundations: Probability.
- Thank you for spending some time with me and learning about the foundations of statistical probability. I really want to encourage you to continue to grow your skills by applying what you've learned in these first two courses, both at home and at work. But I want to let you know that this doesn't need to be the end of your statistical journey. Probability and the basic elements of statistics, like means, medians, and standard deviations, they're all helpful in making sense of data sets that are given to you, but it doesn't need to end there. Our next statistics course will help us gather our own data, and it will help us understand how confident we can be in our data. Again, thank you for completing Statistical Probability. Hopefully all of your future bets will have heavy odds in your favor and massive payoffs.
Eddie explains that probability is used to make decisions about future outcomes and to understand past outcomes. He covers permutations, combinations, and percentiles, and goes into how to describe and calculate them. Eddie introduces multiple event probabilities and discusses when to add and subtract probabilities. He describes probability trees, Bayes’ Theorem, binomials, and so much more. You can learn to understand your data, prove theories, and save valuable resources—all by understanding the numbers.