Explain the relation between the probability and statistics. Give examples.
Explain the relation between the
Probability is the mathematical language of randomness which enables us to reason about or to predict the outcomes of processes that have randomness or uncertainty. It deals with the prediction of future events. It analyzes the random phenomena that the event will occur. The outcome cannot be determined before the event occurs. But there are several possible outcomes for an event to occur. Probability value lies between 0 and 1 where 0 stands for impossibility of the occurrence of an event and 1 stands for certainty.
Statistics is a branch of mathematics. It deals with collection of the data, analyzing the data and drawing conclusions from the data. It is used to summarize a large data , statistical analysis are used for gathering and evaluating data. Statistics describes and summarizes characteristics of observed outcomes or data. It extracts patterns from the data and makes statements about underlying mechanisms of a process.
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