Randomness, Probability, and Random Variables

This is a dense section, with many theoretical concepts to learn. Although it is heavy, you will finish this section with a very good grasp of some of the most basic and foundational concepts in probability theory. We will also introduce very useful methods you can use to perform simulations using NumPy so that you get to play around with some code. By using simulations, we hope to show you how the theoretical concepts translate into actual numbers and problems that can be solved with these tools. Finally, we will define random variables and probability distribution, two of the most important concepts to know about when using statistics to solve problems in the real world.

Randomness and Probability

We all have an intuitive idea of the concept of randomness and use the term in everyday life. Randomness means that certain events happen unpredictably or without a pattern.

One paradoxical fact about random events is that although...