Section 45 Probability: Relative Frequency
Theoretical probability is the expected probability of an event to happen.
Experimental probability is the estimation of probability based on an event happening in repeated experiments.
The most popular version of objective probability is frequentist probability
These probability estimates are based on ‘relative frequencies’.
Relative frequencies are calculated from a sample, but probabilities relate to a population.
Relative frequencies provide estimates for probabilities if we have a random sample from the population of interest.
Random: every member of the population has an equal chance of being selected
The sampled data are only representative of the population from which they were sampled.
The weather data are only representative of the location and time of year they were collected.
Probability estimates depend on the sample size collecting more data improves the probability estimates.
The sample size n should be large: the larger n is, the better the estimate of probability.