Calculation of Probability in Statistics

So far, you have learnt how to manually calculate the probability of an event. Now, let's learn how one goes from data to probability using Excel.

You can download the file used by Thomas in the video from the below link.

In this video, Thomas demonstrated how to use Excel to calculate probabilities value from a given data set of the Portuguese bank. The probability calculated here was the probability of defaulting a loan among the 'young', 'middle' and 'old' age groups. 

In the next segment, you will learn what a random variable is and what the different types of random variables are.