The majority of statistical methods conduct inference using the population mean as the parameter of interest.
Classical Statistics is based around the notion that population parameters of a model are unknown but fixed
Probability quantifies the degree of uncertainty in a random experiment, and a probability function maps elements in the sample space
The abbreviation iid stands for independent, identically distributed, and refers to instances of a random variable that are samples in such a fashion.
A pair of events are independent if the probability of one event occurring has no effect on the occurrence of the other event.
A pair of events are mutually exclusive if their intersection is the empty set
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