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Making Predictions

In this topic, we will learn to make predictions based on given probability figures (experimental as well as theoretical).

Topic: Sample Surveys to Make Predictions

  • A prediction is a guess about something in the future

  • One way to make a prediction is to collect information by conducting a survey

  • Predictions are made on the basis of experimental data (historical probability figures)

Topic: Theoretical Probability to Make Predictions

  • A prediction or expectation is a guess about something in the future

  • One way to make a prediction is to use probability in the form of proportions

  • The ratio of the number of desired outcomes (x) to the number of attempts (n) is x/n

  • x/n will always be equal to the theoretical probability of the event (for one attempt).
    For example, let the number of times we get heads in 6 throws be x.
    x/6 = 1/2 [ P(heads per throw) ]

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