From the course: Statistics Foundations 2: Probability
Join today to access over 22,500 courses taught by industry experts or purchase this course individually.
Probability basics - Microsoft Excel Tutorial
From the course: Statistics Foundations 2: Probability
Probability basics
- Whenever uncertainty looms, probability is there. What are the chances of rain today? What's the probability I'll roll a four? What are the chances my plane will leave on time? Every one of these questions is begging for a probability, a percent chance of something happening. And when people are making decisions, they consider the probabilities. But what is a probability? I think we all know that the probability of flipping heads with say a US quarter is 50%. But how is it calculated? It's calculated by using this formula. We divide the desired outcome or outcomes by the total number of possible outcomes. So, if I want to flip heads, one outcome, heads and tails are possible outcomes, two outcomes, 0.50 or 50%. And if I wanted to know the chances of drawing a queen from a deck of cards, I divide four, the number of queens in the deck, one for each suit, by 52, the total number of cards in the deck. 0.077 or 7.7%.…
Practice while you learn with exercise files
Download the files the instructor uses to teach the course. Follow along and learn by watching, listening and practicing.
Download courses and learn on the go
Watch courses on your mobile device without an internet connection. Download courses using your iOS or Android LinkedIn Learning app.