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# WK2AssgnSmallwoodC.docx - 1 Probability in Practice Name...

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1 Probability in Practice Name Walden University

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2 Probability in Practice Probability theory is the theory of analyzing and making statements concerning the probability of the occurrence of uncertain events. (Random House Dictionary, 2017) The online statistics education guide covered 2 sections of the vast phenomena of probability and statistics: introduction and basic concepts. Contained within each class were subsets that further define and deliver data to the learners. In the preceding paragraphs, a more in-depth distribution of each subsection from the introduction and basic components. Introductory The first chapter introduces statistics and the importance. Lane & Osherson (n.d.) decribes statistics as a study that “involves math and relies upon calculations of numbers. But it also relies heavily on how the numbers are chosen and how the statistics are interpreted.” Understanding statistical data presented in reports, financial information, or commercials (the selling of goods or services to consumers) as exhibited in the textbook. Meaning that people should be able to comprehend that statistical information that companies or people are presenting. Moving forward from the basis, statistics breaks down into variations descriptive and inferential. Descriptive statistics are “numbers that are used to summarize and describe data” (Lane & Osherson, n.d.); while inferential is “concerned with drawing conclusions about a population from a sample. This is generally done through random sampling, followed by inferences made about central tendency, or any of a number of other aspects of a distribution.” (Lane & Osherson, n.d.) The sampling demonstration familiarized learners to random and stratified sampling examples. Random sampling “means that every member of the population is equally likely to be chosen” (Lane & Osherson, n.d.) ; while stratified sampling is when the “population is divided into a number of subgroups (or strata). Random samples are then taken
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