GUIDES / PROBABILITY

Reason clearly about chance.

Probability provides a mathematical framework for describing uncertainty; it does not eliminate uncertainty.

THE ESSENTIALS

Built on clear principles.

Probability in brief

For equally likely outcomes, probability is the number of favorable outcomes divided by the total number of possible outcomes.

Independence

Independent events do not change each other's probabilities. Whether events are independent depends on the system and its rules.

The gambler's fallacy

A random event is not necessarily more likely to reverse simply because a similar outcome occurred several times in a row.

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