Discrete Probability Distributions: Calculating Mean, Variance, Standard Deviation, Expected Value
Calculating Mean of Probability Distribution
This video explains how to find the mean (average) of a probability distribution when you are given a table of outcomes and their corresponding probabilities, such as for survey results or a weighted coin.
Calculating Variance & Standard Deviation of Probability Distribution
This video explains how to find the variance and standard deviation of a probability distribution when you are given a table of outcomes and their corresponding probabilities, such as for survey results or a weighted coin.
Probability Distribution vs Histogram
This short video aims to clear up a common confusion: What's the difference between a distribution and a histogram?
"0+" Probability
This video explains a weird number that some math teachers like to use when talking about very small probabilities, instead of having to write "a really really tiny number" all the time.
Expected Value & E-Commerce 101
How do you make a decision between two different paths that have different probabilities of success but different payoffs? How do you place a value on website visitors if most of them never buy anything? And how is this different from weighted average? Stay tuned to find out.