Pre-sessionals - Stats 3

Contact

Name: Domenico Mergoni
Email: d.mergoni -at- lse.ac.uk
Work: London School of Economics

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Probability and Reading Table

Introduction to Probability
- Basic Concepts of Probability
  - Define probability as the measure of likelihood of an event.
  - Introduce the concept of sample space and events.
  - Example: Tossing a fair coin as a simple probability experiment.
- Probability as a Ratio
  - Explain how probability is calculated as a ratio of favorable outcomes to total outcomes.
  - Discuss the range of probability from 0 to 1.
  - Exercise: Calculate the probability of rolling a specific number on a fair six-sided die.
- Probability vs. Odds
  - Define odds as the ratio of favorable outcomes to unfavorable outcomes.
  - Compare and contrast probability and odds.
  - Example: Compare the probability and odds of drawing a red card from a deck.
Probability Distributions
- Discrete vs. Continuous Probability Distributions
  - Differentiate between discrete and continuous random variables.
  - Discuss examples of each type of distribution.
  - Exercise: Identify whether given scenarios involve discrete or continuous random variables.
- Probability Mass Function (PMF) and Probability Density Function (PDF)
  - Explain the concepts of PMF for discrete distributions and PDF for continuous distributions.
  - Discuss how they represent probabilities of specific outcomes and ranges.
  - Example: Calculate and interpret the PMF of a binomial distribution.
  - Exercise: Determine the PDF of a given continuous distribution.
- Examples of Uniform, Binomial, and Normal Distributions
  - Introduce uniform, binomial, and normal distributions.
  - Explain scenarios where each distribution is applicable.
  - Example: Describe the characteristics of a normal distribution.
  - Exercise: Identify situations where specific distributions might be observed.
Reading Data Tables
- Understanding Data Tables and Formats
  - Define data tables as organized representations of data.
  - Explain columns, rows, and headings in data tables.
  - Exercise: Interpret the structure of a given data table.
- Extracting Information from Frequency Tables
  - Discuss frequency tables and their role in summarizing categorical data.
  - Explain how to calculate relative frequencies and percentages from frequency tables.
  - Example: Calculate relative frequencies from a frequency table of survey responses.
  - Exercise: Calculate relative frequencies for various categories in a given frequency table.
- Interpreting Data Presented in Tabular Form
  - Guide students in extracting meaningful insights from data tables.
  - Discuss patterns, trends, and comparisons that can be made using data tables.
  - Example: Interpret a frequency table of ages in a population.
  - Exercise: Analyze and draw conclusions from a provided data table.
Conclusion and Recap
- Summarize the key concepts covered in the lecture.
Q&A Session
Reference: Statistics for Business, 2nd edition. R. A. Stine, D. Foster