Join Eddie Davila for an in-depth discussion in this video Probability trees, part of Statistics Foundations: Probability.
- When you're trying to calculate probabilities … for multiple events … it's often helpful to draw a probability tree … to visualize how the events might occur. … Let's use a probability tree … to see how probabilities will change … as we flip a coin two times. … Let's build a probability tree … for two successive coin flips. … We flip the first coin and it turns up as heads or tails, … one branch for each outcome. … Each branch has a probability of 50%. … Remember we're flipping the coin twice. … It doesn't matter what the result was on flip number one. … So we flip again. … Now next to both the heads outcome from flip number one … and the tails outcome, we add two more branches. … And again, each branch has a probability of 50%. … We can then follow the paths of the four outcomes … at the end of our tree. … One is heads flip one, heads flip two. … Another is heads, then tails. … At the bottom of the tree … we have tails heads and tails tails. … If we multiply the probabilities … along each of the four paths …
Eddie explains that probability is used to make decisions about future outcomes and to understand past outcomes. He covers permutations, combinations, and percentiles, and goes into how to describe and calculate them. Eddie introduces multiple event probabilities and discusses when to add and subtract probabilities. He describes probability trees, Bayes’ Theorem, binomials, and so much more. You can learn to understand your data, prove theories, and save valuable resources—all by understanding the numbers.