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Statistics and Probability Letters The functional central limit theorem
Statistics and Probability Letters The functional central limit theorem

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... It is difficult to imagine any facet of our life untouched by numerical data. Modern society is essentially data-oriented. It is, therefore, essential to know how to extract useful information from such data. This is the primary objective of statistics. Statistics concerns itself with the collection ...
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... Q22. On a time plot, an overall upward or downward slope is called what? Q23. On a time plot, what do you call the shorter-term variations that occur regularly, repeating themselves in a cyclic fashion? Q24. 1/n times the summation of the x(i), where n is the number of cases and x(i) is the value of ...
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Probability

Probability is the measure of the likeliness that an event will occur. Probability is quantified as a number between 0 and 1 (where 0 indicates impossibility and 1 indicates certainty). The higher the probability of an event, the more certain we are that the event will occur. A simple example is the toss of a fair (unbiased) coin. Since the two outcomes are equally probable, the probability of ""heads"" equals the probability of ""tails"", so the probability is 1/2 (or 50%) chance of either ""heads"" or ""tails"".These concepts have been given an axiomatic mathematical formalization in probability theory (see probability axioms), which is used widely in such areas of study as mathematics, statistics, finance, gambling, science (in particular physics), artificial intelligence/machine learning, computer science, game theory, and philosophy to, for example, draw inferences about the expected frequency of events. Probability theory is also used to describe the underlying mechanics and regularities of complex systems.
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