Understanding probability and statistics from "summary" of RRB ALP Exam PDF-RRB Assistant Loco Pilot Exam-CBT-1-Mathematics Subject eBook by Chandresh Agrawal,Nandini Books
Probability and statistics are essential branches of mathematics that help us make sense of the world around us. Probability deals with the likelihood of events occurring, while statistics involves collecting, analyzing, and interpreting data to make informed decisions. By understanding these concepts, we can make predictions, draw conclusions, and solve real-world problems.
In probability, we study the chance of an event happening based on certain conditions or assumptions. This helps us quantify uncertainty and make decisions in situations where outcomes are uncertain. By calculating probabilities, we can assess risks, make informed choices, and optimize outcomes. Probability is used in various fields such as finance, insurance, science, and engineering to predict future events and outcomes.
Statistics, on the other hand, involves gathering and analyzing data to uncover patterns, trends, and relationships. It helps us summarize information, make inferences, and draw conclusions about a population based on a sample. By using statistical methods, we can make informed decisions, ...
