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What are the 4 Types of probability?
Probability can be conditional, unconditional or even standard. However, there are 4 main types of probability from which other concepts stem. These are
- Classical probability: It involves having a list of all possible outcomes and recording the actual occurrences. An example is tossing a coin or rolling a die severally
- Experimental probability: This type of probability is based on the possible outcomes compared to the total trials
- Theoretical probability: It considers possible probability depending on possible chances of an event happening
- Subjective probability: It is based on individual reasoning or judgement, such as in sports betting.
Is statistics and probability hard?
Generally, the majority of individuals deem math-related courses are challenging. Statistics and probability entails the math element and well as logical reasoning, making it even harder. However, when you understand the underlying concepts, you can complete any task straightforwardly. Most of the topics in this area are interrelated, hence, requiring a thorough understanding from the start. If you are struggling with any probability assignment, let us know. Our probability and statistics tutors will walk you through any topic that is giving you sleepless nights.