Statistics Foundations 2: Probability

Statistics Foundations 2: Probability

1h 10mBeginner2021-04-02

Authors

Eddie Davila

Eddie Davila

Associate Chair for the ASU Supply Chain Management program

Course details

Not sure if you need statistics? Think again! Statistics help with making decisions, new discoveries, investments, and predictions. For subjects ranging from political races to healthcare advancements, statistics can improve your understanding of your favorite topic. In this course, Professor Eddie Davila teaches common terms, formulas, and techniques related to probability, the area of statistics where this course focuses.

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.

Skills covered

StatisticsMicrosoft ExcelFoundationsData ScienceMicrosoft

Concepts

Introduction

  • The importance of probabilities

Introduction to Probability

  • Probability basics
  • Examples of probability
  • Permutations
  • Combinations
  • Percentiles

Multiple Event Probabilities

  • Introduction to multiple events
  • Probabilities of two events
  • Conditional probabilities
  • Probability trees
  • Multiplication rule
  • Using probability trees
  • Bayes theorem

Discrete and Continuous Probabilities

  • Discrete vs. continuous
  • Discrete mean
  • Binomials
  • Normal curve
  • Bell-shaped curve
  • Z transformation

Conclusion

  • Next steps
40,000 Toman