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Part 3 The Foundation of Statistical Inference: Probability and Sampling Chapter 4 Basic Probability Concepts.

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Presentation on theme: "Part 3 The Foundation of Statistical Inference: Probability and Sampling Chapter 4 Basic Probability Concepts."— Presentation transcript:

1 Part 3 The Foundation of Statistical Inference: Probability and Sampling Chapter 4 Basic Probability Concepts

2 Introduction Types of Probability Deriving objective probabilities

3 Properties of a Probability

4 Basic Probability Concepts

5

6 Calculating Objective Probabilities
Marginal Probability P(A) Joint Probability P(A ∩ B) Conditional Probability P(A/B)

7 Probability Rules

8 Probability Trees

9 Counting Rules – Permutations and Combinations
The Multiplication Rule of Counting Permutations Rule Combinations Rule

10 Summary Exercises

11 End of Chapter 4 Applied Business Statistics Methods and Excel-based Applications Third edition TREVOR WEGNER ISBN


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