STATS Notes (Module 1 & 2)
1. Probability of Outcome
No . of ways of getting selected outcome
Total number of possible outcomes
2. Win% & House Advantage
Payout for winning number
Amount bet across all numbers
STATS Notes (Module 3 & 4)
1. Random Variables
Random Experiment = A procedure whose outcome (result) in a particular performance
(trial) cannot be predetermined.
Random Variable = Used to capture the outcome of a random experiment (essentially the
STATS Notes (Module 5)
1. Sampling Distribution
Everything that is being measured, is measured individually.
The quantity of interest in the population = parameter.
Generally unknown but what we want to find out through the sample statistic