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What is the expected value?
Even if you are not aware of it, expected value is behind many frequently used concepts such as entropy and the mean squared error .For instance, entropy is the expected value of the information…
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Expected Value of Random Variables -Explained Simply
The expected value of a random variable is the weighted average of all possible values of the variable. The weight here means the probability of the random variable taking a specific value. What is…
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Finding Expected Values using Monte Carlo Simulation: An Introduction
If you’re someone who is interested in solving probability puzzles, there’s a good chance that you have come across some puzzles which require you to find the expected number of trials before you…
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Probability Distribution
I’m a data scientist for a mobile application. As a data scientist, you will often draw a random sample from the population to conduct experiments or analyses. With the random sample, you make…
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A Monte Carlo Experiment For Calculating The Expected Value Of A Full Dice Roll
This question is a frequent flyer in many interviews, the following is a programmatic approach to solve it using random sampling. The idea is, to run many experiments, in which you roll the dice…
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Expectation and Variance From Zero to Mastery
Expectation and variance are one of the basic and yet important topics. It is essential for data scientists to deeply understand the subject in order to tackle statistical problems and understand…
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Introducing Discrete Random Variable and Expected Value using NASA Data
NASA has published a compiled data on space-shuttle launches on its website. The data is tabulated to display a frequency distribution for the number of crew members on each shuttle mission from…
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Decision Theory: Expected Utility and Risk Aversion
This article describes why there was a need to find the best utility function in decision-making. The article uses multiple examples to have a better understanding of the topics. Decision theory…
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Compute the probability of your earnings with one line of code
If you are a freelancer, a retailer or simply an active writer on Medium, you can find a simple formula to better project your earning chances here below. The following discussion is based on the…
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Expectations & Variance Relations
This article is going to be short and sweet. When it comes to technical knowledge in general, I’m a big proponent of having strong fundamentals and grounded understanding in the methods one is using…
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Probability
Probability Links Screenshots License Basic concepts in probability for machine learning. This cheatsheet is a 10-page reference in probability that covers a semester’s worth of introductory probabili...
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Random Variables and Probability Distributions
Master the random variables and probability distributions and crack your next Data Science Interview with the third part of our Statistics Cheat Sheet series Photo by Naser Tamimi on Unsplash Random ...
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Probability
Different definitions of probability explained through an experiment in Python with Pi
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An Introduction to Random Variables & Probability Distribution
Random Variables: A random variable represents the outcome of statistical experiments on numerical values. Discrete Random variables: A variable that can take only the countable number of values. For…...
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Statistics #04 — Introduction to Probability
Today, we’ll talk about probability. If you are starting your studies in statistics, or if you just want to recall some basic concepts, this series is for you! For instance, when you check the…
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Introduction to Probability:
There are many tutorials, articles available on internet that will demonstrate you how to calculate probability. So, instead of going for it, in this article I will focus on- 1. What Probability is…
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Moment in Statistics
We generally use moments in statistics, machine learning, mathematics, and other fields to describe the characteristics of a distribution. Let’s say the variable of our interest is X then, moments…
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Random Variable
One of the basic concepts of statistic is a Random Variable. So, what is Random Variable? Random variable links the outcome of an event to a number. Let’s take an example. X is variable which takes…
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Wordle Words and Expected Value
Like many people, I’ve gotten sucked into wordle. For those unfamiliar with the game, you are tasked with identifying a five-letter word. You input a guess (which must be a five-letter word) and are t...
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The Poisson Distribution
Mylie has been averaging 3 hits for every 10 times at bat. What is the probability that she will get exactly 2 hits in her next 5 times at bat? How do we go about calculating the probability of this…
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Statistics and Probability: Introduction to Probability
In order to understand and grasp the core concepts behind some of the most prominently used Machine Learning algorithms, it is important that one is at least familiar with the basics of Statistics and...
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Solving Conditional Probability Problems with the Laws of Total Expectation, Variance, and…
In this article, we’ll see how to use the Laws of Total Expectation, Variance, and Covariance, to solve conditional probability problems, such as those you might encounter in a job interview or while…...
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Probability and Statistics
One way or another, machine learning is all about uncertainty. In supervised learning, we want to predict something unknown (the target ) given something known (the features ). Depending on our object...
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On average we will prefer using distribution
Statistics like average often hide details of your data. It is quite easy to visualize data distribution.
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