From the course: Complete Guide to Excel Statistics with Copilot

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Probability explained

Probability explained

From the course: Complete Guide to Excel Statistics with Copilot

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Probability explained

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- [Instructor] Nobody has all the answers, but it seems everyone can tell you the probability. There's a 50% chance that in a single roll, you will roll either a four, five, or six with the die. There's a 73% chance LeBron James will make this next free throw. There's a 99% chance my boss will be drinking coffee at this meeting. Three probabilities each is a little different. There's a 50% chance that in a single roll I will roll either a four, five, or six with the die. This is what we call classical probability. We know the die has six sides. We know that if we roll the die each outcome, one through six is equally likely. Four, five and six are half of the possible outcome. So we are confident that the 50% probability is accurate. There is a 73% chance LeBron James will make this free throw. This is what we call empirical probability. Based on LeBron's lifetime NBA statistics, we believe there is a 73% chance he will make this next free throw. Look, there's plenty of past data to…

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