Probability Basics
Probability distribution is an essential concept in statistics and machine learning. It describes the underlying distribution that governs the generation of potential outcomes or events in an experiment or random process. There are different types of probability distributions, depending on the specific domain and characteristics of the data. A proper probability distribution is a useful tool in understanding and modeling the behavior of random processes and events, providing convenient tools for decision-making and predictions when developing data-driven predictive and optimization models.
By the end of this chapter, you will understand the common probability distributions and their parameters. You will also be able to use these probability distributions to perform usual tasks such as sampling and probability calculations in R, as well as common sampling distribution and order statistics.
In this chapter, we will cover the following topics:
- Introducing...
