Probability is the branch of mathematics that deals with the likelihood of an event occurring, while statistics is the science of collecting, analyzing, and interpreting data.
Probability is used in everyday life to make predictions about events and to make decisions based on the likelihood of certain outcomes. For example, we use probability when deciding which route to take to work based on the probability of traffic on each route.
Theoretical probability is the probability of an event occurring based on mathematical calculations, while experimental probability is the probability of an event occurring based on actual trials or experiments.
The Central Limit Theorem is a fundamental concept in statistics that states that as the sample size of a population increases, the distribution of sample means will approach a normal distribution, regardless of the shape of the original population.
The mean is calculated by adding all the values in a data set and dividing by the number of values. The median is the middle value when the data set is arranged in ascending or descending order. The mode is the most frequently occurring value in a data set.
