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[1] [2] A random sequence of events, symbols or steps often has no order and does not follow an intelligible pattern or combination. Individual random events are, by definition, unpredictable, but if there is a known probability distribution, the frequency of different outcomes over repeated events (or "trials") is predictable.
A numeric sequence is said to be statistically random when it contains no recognizable patterns or regularities; sequences such as the results of an ideal dice roll or the digits of π exhibit statistical randomness. [1] Statistical randomness does not necessarily imply "true" randomness, i.e., objective unpredictability.
Another example of a behavior that has been described as a fixed action pattern is the egg-retrieval behavior of the greylag goose, reported in classic studies by Niko Tinbergen and Konrad Lorenz. [5] Like many ground-nesting birds, if an egg becomes displaced from the nest, the greylag rolls it back to the nest with its beak.
There are two categories of imperfectly predictable events between which choices must be made: risky and ambiguous events (also known as Knightian uncertainty). Risky events have a known probability distribution over outcomes while in ambiguous events the probability distribution is not known. The reaction is behavioral and still being formalized.
Animals have significantly more predictable behavior than humans. Driven by natural selection, animals develop mating calls, predator warnings, and communicative dances. One example of these engrained behaviors is the Belding's ground squirrel, which developed a specific set of calls that warn nearby squirrels about predators.
This can happen even though these systems are deterministic, meaning that their future behavior follows a unique evolution [9] and is fully determined by their initial conditions, with no random elements involved. [10] In other words, the deterministic nature of these systems does not make them predictable.
Cycles or trends were determined from the tests. Malkiel then took the results in chart and graph form to a chartist, a person who "seeks to predict future movements by seeking to interpret past patterns on the assumption that 'history tends to repeat itself'." [9] The chartist told Malkiel that they needed to immediately buy the stock. Since ...
In probability theory, an event is a set of outcomes of an experiment (a subset of the sample space) to which a probability is assigned. [1] A single outcome may be an element of many different events, [2] and different events in an experiment are usually not equally likely, since they may include very different groups of outcomes. [3]