Tag: Probability

Suppose you have a binary classifier and two observations; the model scores them as 0.6 and 0.99, respectively. Is there a higher chance that the sample with the 0.99 score belongs to the positive class? For some models, this is true, but for others it might not. This blo...

Probability distributions are an essential component of statistical analysis in many fields, including finance, economics, engineering, and social sciences. Probability distributions provide a mathematical representation of the likelihood of different outcomes in a given scenario. Understanding prob...

Random Variable: All possible outcomes of a random experiment are random variables. A random variable set is denoted by X. Discrete Distributions Bernoulli Distribution We have a single trial (only one observation) and 2 possible outcomes. For example, flipping a coin. Let’s...

In the world of mathematics, you’d expect that the chances of a child correctly matching their shoes to the right feet, or the possibility of correctly inserting a USB into a computer port, would stand at a clean 50 percent. This is based on the simple premise that there are two possible outco...

Probability theory, a fundamental branch of mathematics, has long played a central role across various scientific disciplines. From the principles of uncertainty in physics to risk assessment in economics, and algorithm design in artificial intelligence, the influence of probability theory is omnipr...

I was in my high school statistics class. My eyes glazed over. The teacher talked about normal distributions and standard deviations. It wasn’t until I stumbled upon an illustrated book in the library that I saw these concepts in a new light. The book used graphics to show probability distribu...

The banking industry has been applying machine learning to enhance loan approval process, default risk assessments, and fraud detection, for example. Making accurate decisions in these areas is important for effective risk management and cost control, which can translate to significant value. Whi...

‌Joint Probability Joint probability is the likelihood of more than one event occurring at the same time P(A and B). The probability of event A and event B occurring together. It is the probability of the intersection of two or more events written as p(A ∩ B). ...

Likelihood is a confusing term. Likelihood is not a probability, but is proportional to a probability; the two terms can’t be used interchangeably. In this post, we will be dissecting likelihood as a concept and understand it’s importance in machine learning. Intuition Let us under...