Notes and Study material for Exams
Average The word “average” is used in everyday life to describe where the middle number of a data set is. It’s the typical number you would expect to find in a series of numbers. In statistics, the average is called the “arithmetic mean,” usually just shortened to the mean. Both the average and … Read more
Probability Probability is simply how likely something is to happen. Whenever we’re unsure about the outcome of an event, we can talk about the probabilities of certain outcomes—how likely they are. The analysis of events governed by probability is called statistics. Tossing a Coin When a coin is tossed, there are two possible outcomes: heads … Read more
DECISION MAKING under uncertainty The area of choice under uncertainty represents the heart of decision theory. Known from the 17th century (Blaise Pascal invoked it in his famous wager, which is contained in his Pensées, published in 1670), the idea of expected value is that, when faced with a number of actions, each of which could give rise … Read more
Buffon’s Theory: A Legacy of Curiosity and Innovation Georges-Louis Leclerc, Comte de Buffon, was a towering figure in the history of natural history. His monumental work, Histoire naturelle, published in 36 volumes between 1749 and 1788, revolutionized the way people understood the natural world. While Buffon is best known for his contributions to zoology and … Read more
Variance Variance (σ2) in statistics is a measurement of the spread between numbers in a data set. That is, it measures how far each number in the set is from the mean and therefore from every other number in the set. In investing, the variance of the returns among assets in a portfolio is analyzed … Read more
Probability Probability is simply how likely something is to happen. Whenever we’re unsure about the outcome of an event, we can talk about the probabilities of certain outcomes—how likely they are. The analysis of events governed by probability is called statistics. Tossing a Coin When a coin is tossed, there are two possible outcomes: heads … Read more
MENDELIAN INHERITENCE Mendelian inheritance is a type of biological inheritance that follows the laws originally proposed by Gregor Mendel in 1865 and 1866 and re-discovered in 1900. These laws were initially very controversial. When Mendel’s theories were integrated with the Boveri–Sutton chromosome theory of inheritance by Thomas Hunt Morgan in 1915, they became the core … Read more