Chapter 17: Statistics and Probability • Statistics and probability are two interrelated fields of mathematics that deal with collecting, analysing, and interpreting data. Statistics is the study of data and involves techniques for collecting, organis ing, summari sing, analysing, interpreting, and drawing conclusions from data. It provides a set of tools for making decisions based on data, as well as for assessing the reliability and uncertainty of these decisions. • Probability, on the other hand, is the study of chance and randomness. It deals with the likelihood or chance of an event occurring and is expressed as a number between 0 and 1, with 0 indicating that an event is impossible, and 1 indicating that an event is certain to occur. Probability is a crucial component of statistics, as it is used to make inferences and predictions about populations based on samples of data. • Together, statistics and probability provide a powerful set of tools for understandin
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