1. #1
    Professor1215
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    Who really is an expert?

    SBR Forum,

    I would like for all the "experts" who use this site to answer the following 2-part question for me.

    What is the difference between probability and degree of certainty and what are the formula's for each of them?

    Any relevant information will result in 5 points from me.

    Thanks,

    Professor1215

  2. #2
    FourLengthsClear
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    Probability is a measure of certainty/uncertainty.

    You might start out by googling "Confidence Interval".
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  3. #3
    sapidoc
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    As FLC pointed out, probability is the measure of the likeliness that a random even will occur.

    Here's an example:

    Assuming all outcomes are equally likely (ie. rolling a die):

    Probability = (number of outcomes you are interested in) / (total possible number of outcomes)

    Probability of event A is written like: P(A)

    So if we say define A = roll a 5 using a single die, then P(A) = events I want / total events = {roll a 5** / {roll 1,2,3,4,5,6) = 1 / 6 =~ 0.16666...

    If we say define B = roll an odd number using a single die, then P(B) = events I want / total events = ** roll 1, 3, 5** / roll {1,2,3,4,5,6** = 3/6 = 0.5

    ---

    Again, FLC pointed out that you should look at Confidence Intervals (since 'degree of certainty' was in the context of probability):

    The Confidence interval is used to indicate the reliability of an estimate.

    Wikipedia has a great example for calculating confidence intervals:
    http://en.wikipedia.org/wiki/Confide...erval#Examples
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  4. #4
    Professor1215
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    What about degree of certainty?

  5. #5
    FourLengthsClear
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    Quote Originally Posted by Professor1215 View Post
    What about degree of certainty?
    It is a subjective term.

  6. #6
    Professor1215
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    What does the non-vig line tell you?

    Thanks again!
    Last edited by Professor1215; 12-08-11 at 09:08 PM. Reason: Meant to start a new thread

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