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Erschienen in:
2013 | OriginalPaper | Buchkapitel
5. Probability Concepts and Their Analysis
verfasst von : Cheng-Few Lee, John C. Lee, Alice C. Lee
Erschienen in: Statistics for Business and Financial Economics
Verlag: Springer New York
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Abstract
In Part I of this book, we discussed the use of descriptive statistics, which is concerned mainly with organizing and describing a set of sample measurements via graphical and numerical descriptive methods. We now begin to consider the problem of making inferences about a population from sample data. Probability and the theory that surrounds it are discussed in this chapter. These topics provide an essential foundation for the methods of making inferences about a population on the basis of a sample. A well-known example is the election poll, in which pollsters select at random a small number of voters to question in order to predict the winner of an election. Probability is also used in daily decision making. For example, investment decisions are based on the investor’s assessment of the probable future returns of various investment opportunities, and such assessments are often based on some sample information.