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Also confidence coefficient. A number indicating the probability that the confidence interval (range) captures the true population mean. For example, a confidence interval with a 95% confidence level has a 95% chance of capturing the population mean. Technically, this means that, if the experiment were repeated many times, 95% of the CIs computed at this level would contain the true population ...
Governments apply probabilistic methods in environmental regulation, entitlement analysis, and financial regulation. An example of the use of probability theory in equity trading is the effect of the perceived probability of any widespread Middle East conflict on oil prices, which have ripple effects in the economy as a whole.
This is a list of probability topics.It overlaps with the (alphabetical) list of statistical topics.There are also the outline of probability and catalog of articles in probability theory.
When referring specifically to probabilities, the corresponding term is probabilistic model. All statistical hypothesis tests and all statistical estimators are derived via statistical models. More generally, statistical models are part of the foundation of statistical inference .
Historically, attempts to quantify probabilistic reasoning date back to antiquity. There was a particularly strong interest starting in the 12th century, with the work of the Scholastics, with the invention of the half-proof (so that two half-proofs are sufficient to prove guilt), the elucidation of moral certainty (sufficient certainty to act upon, but short of absolute certainty), the ...
Statistical techniques are used in a wide range of types of scientific and social research, including: biostatistics, computational biology, computational sociology, network biology, social science, sociology and social research. Some fields of inquiry use applied statistics so extensively that they have specialized terminology. These ...
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Random experiments are often conducted repeatedly, so that the collective results may be subjected to statistical analysis.A fixed number of repetitions of the same experiment can be thought of as a composed experiment, in which case the individual repetitions are called trials.