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An Intuitive Introduction to Probability

This course will provide you with a basic, intuitive and practical introduction into Probability Theory. You will be able to learn how to apply Probability Theory in different scenarios and you will earn a "toolbox" of methods to deal with uncertainty in your daily life.

The course is split in 5 modules. In each module you will first have an easy introduction into the topic, which will serve as a basis to further develop your knowledge about the topic and acquire the "tools" to deal with uncertainty. Additionally, you will have the opportunity to complete 5 exercise sessions to reflect about the content learned in each module and start applying your earned knowledge right away.

The topics covered are: "Probability", "Conditional Probability", "Applications", "Random Variables", and "Normal Distribution".

You will see how the modules are taught in a lively way, focusing on having an entertaining and useful learning experience! We are looking forward to see you online!

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What's inside

Syllabus

Probability

In this module we will learn about probabilities and perform our first calculations using probability formulas. We want to get comfortable with the idea that probabilities describe the chance of uncertain events occurring.

Conditional Probability

The arrival of new information may lead us to alter our probabilistic assessments of uncertain events. In this module, we will learn how the concept of "conditional" probabilities allows us to make these changes correctly. Script of the course can be found here: https://www.coursera.org/learn/introductiontoprobability/resources/qxi9W

Application

We will discuss some fascinating every-day applications of probability. In addition to entertaining examples, we will also review very serious applications from finance and law.

Discrete Random Variables

In this module we move beyond probabilities and learn about important summary measures such as expected values, variances, and standard deviations. We also learn about the most popular discrete probability distribution, the binomial distribution.

Normal Distribution

We want to get comfortable with the normal distribution. We will discuss what the famous bell curve really represents. And we will learn how easy it is to calculate normal probabilities.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Provides an accessible and understandable intro to probability

Offers exercises in each module for direct application of concepts

Highlights real-world applications of probability, making the learning practical

Instructs on probability distribution, which is key in many industries

Covers a range of topics related to probability, providing a comprehensive overview

Delivers modules in a clear and engaging way, making learning enjoyable

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Reviews summary

Intuitive probability

Learners say Karl Schmedders' "An Intuitive Introduction to Probability" explains probability in an engaging way. It is highly recommended for learners who say they dislike the subject or who want a refresher. The course includes explanations of probability concepts and real-life examples of these concepts in fields such as finance, law, and sports. Many learners say Professor Schmedders' sense of humor, enthusiasm, and storytelling make learning the subject entertaining. They say he is able to build an intuitive understanding of probability through practical applications while not getting bogged down in complex formulas and mathematical proofs. Learners who say they already have a background in the subject say this course is a good refresher and a great way to reinforce basic concepts.

The course includes exercises that help learners practice applying the concepts they are learning. These exercises are generally well-received by learners.

"Great instructive content to Probability. I enjoyed it."

"The lectures and real-world examples were captivating. Taking this course sparked my interest in learning more about Probability."

"I really love this course! There are only 2 questions per quiz and they really tested my understanding of the content."

This course focuses on building an intuitive understanding of probability rather than relying heavily on mathematical formulas. This approach is effective at helping learners grasp the basic concepts.

"This explains probability in nice bite size pieces which helps in understanding greatly"

"Highly educated professor and very entertaining"

"It is an intuitive course - really good examples to better understand statistics"

The course is full of examples of how probability is used in the real world. This helps learners see how the concepts they are learning are applied in different fields.

"This course helps me see the real world applications of probabilities and the practical of its uses"

"I like Mr. Karl's and Jose's way of teaching a lot. I had a good time learning this course. Thank you."

"Great teacher, great information. Some classes are a lot to digest for a beginner and may take a few re-watches before fully comprehending."

Professor Schmedders is praised by learners for his engaging teaching style, sense of humor, and ability to make probability understandable. They say he is enthusiastic about the subject and passionate about teaching it.

"Thank you, this was a really interesting course, with many different applications !"

"Karl Schmedders is a wonderful instructor and loves statistics. His enthusiasm is contagious!"

"The main presenter was very good. Worth reading the course notes as instructed before each lecture."

This course covers the basic concepts of probability, making it a good choice for learners who are new to the subject or who want a refresher. It does not go into advanced topics.

"For an induction course it has definetly corresponded to my expectations, had some fun and learnt a couple of useful tools !"

"It would be most welcome to have the course in R. But overall a good and interesting introduction into probability"

"This is a great course! It is “a must” before taking any other in finance or business. Very useful and lot of fun completed it."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in An Intuitive Introduction to Probability with these activities:

Review 'Probability Theory: Concepts and Applications'

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Supplement your course materials by reviewing a comprehensive book that covers the core concepts of probability theory.

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Read the chapters relevant to the topics covered in the course.
Solve the practice problems provided in the book.

Form a probability study group

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Engage in collaborative learning by joining or forming a study group where you can discuss concepts, solve problems, and support each other.

Browse courses on Probability

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Find classmates who are interested in forming a study group.
Set regular meeting times.
Review course materials together and work on practice problems.

Practice probability calculations

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Reinforce your understanding of probability concepts by performing repetitive exercises and calculations.

Browse courses on Probability

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Review the provided examples in the course materials.
Attempt practice problems involving calculating probabilities.

Six other activities

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Explore online probability tutorials and exercises

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Expand your knowledge by seeking out additional tutorials and exercises that provide a different perspective on the course topics.

Browse courses on Probability

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Search for online tutorials and resources related to probability concepts.
Follow the instructions and complete the exercises provided in these tutorials.

Compile a probability resource collection

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Build your own repository of valuable probability resources by gathering and organizing materials from various sources.

Browse courses on Probability

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Search for and collect online resources related to probability.
Organize the resources into a structured format.
Share your collection with others who may find it useful.

Simulate probability models

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Enhance your understanding of probability distributions by creating simulations that demonstrate how they work.

Browse courses on Probability Distributions

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Choose a probability distribution to simulate.
Write code or use a tool to generate random values based on the distribution.
Plot the results of your simulation.

Attend a probability workshop

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Gain practical experience by attending a workshop where you can interact with experts and apply probability concepts to real-life scenarios.

Browse courses on Probability

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Research and identify probability workshops in your area.
Register and attend the workshop.
Participate actively and ask questions to enhance your understanding.

Volunteer at a research lab or organization using probability

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Gain practical experience and contribute to the field by volunteering at an organization where probability is applied to research or real-world scenarios.

Browse courses on Probability

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Research and identify organizations or research labs that use probability.
Contact the organization to inquire about volunteer opportunities.
Assist with projects or tasks that involve probability concepts.

Develop a probability-based application

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Apply your knowledge by creating a project that utilizes probability concepts to solve a real-world problem or demonstrate a statistical phenomenon.

Browse courses on Probability

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Identify a problem or application that can be addressed using probability.
Design and implement a probability-based solution.
Evaluate and refine your solution based on results.

Career center

Learners who complete An Intuitive Introduction to Probability will develop knowledge and skills that may be useful to these careers:

Data Analyst

A Data Analyst analyzes quantitative data in order to track key performance indicators (KPIs), find trends, and draw conclusions. Data Analysts can come from a variety of backgrounds such as finance and marketing; however, many data analysts have experience working with probability. An Intuitive Introduction to Probability teaches the basics of probability theory, covering topics such as probability, random variables, normal distribution, and conditional probability. The module on conditional probability is especially relevant to a Data Analyst's work, and will help you to make informed decisions when new information becomes available.

See salaries and explore the career path for Data Analyst

Quantitative Analyst

Quantitative Analysts are financial experts who leverage complex mathematics, programming, and statistical techniques to make predictions and inform investment recommendations. Many Quantitative Analysts go on to become Portfolio Managers. An Intuitive Introduction to Probability covers the basics of probability theory, which is essential knowledge for Quantitative Analysts. The module on normal distribution is especially applicable to work that Quantitative Analysts do, and will help you to understand the bell curve as well as its properties and applications.

See salaries and explore the career path for Quantitative Analyst

Statistician

Statisticians design, collect, analyze, interpret, and present data in order to provide actionable insights. Statisticians are employed by a variety of organizations including businesses, government agencies, and non-profit organizations. An Intuitive Introduction to Probability covers the basics of probability theory, which is an essential foundation for a career as a Statistician.

See salaries and explore the career path for Statistician

Machine Learning Engineer

Machine Learning Engineers build, deploy, and maintain machine learning models that power a variety of applications such as image recognition, spam filtering, and product recommendations. While machine learning is a specialized field, an understanding of probability is essential for success in this role. An Intuitive Introduction to Probability covers the basic concepts of probability which will help you gain a deeper understanding of machine learning algorithms and models.

See salaries and explore the career path for Machine Learning Engineer

Actuary

Actuaries use statistics and a variety of applied mathematical subjects such as probability and finance to assess risk and uncertainty. Actuaries generally work in the financial sector, especially in the insurance and retirement benefits industries. Many actuaries become consulting actuaries. An Intuitive Introduction to Probability covers the basics of probability theory, which is fundamental knowledge for an actuary.

See salaries and explore the career path for Actuary

Data Scientist

Data Scientists analyze and interpret data to build predictive models. Some data scientists also build machine learning models. Data Scientists are employed by a wide range of organizations in a variety of industries. An Intuitive Introduction to Probability covers the basics of probability theory which will help you develop a strong foundation in data science.

See salaries and explore the career path for Data Scientist

Investment Analyst

Investment Analysts evaluate and research stocks and bonds in order to make investment recommendations. Most Investment Analysts work for banks, hedge funds, or mutual fund companies. An Intuitive Introduction to Probability covers the basics of probability theory, which is fundamental knowledge for understanding investment strategies such as hedging.

See salaries and explore the career path for Investment Analyst

Financial Analyst

Financial Analysts forecast future earnings and evaluate financial performance for a variety of organizations. Many Financial Analysts go on to become financial advisors. An Intuitive Introduction to Probability covers the basics of probability theory, which is fundamental knowledge for a financial analyst to understand financial risk.

See salaries and explore the career path for Financial Analyst

Risk Manager

Risk Managers develop and implement strategies to manage risk such as financial risk, operational risk, and compliance risk for a variety of organizations. An Intuitive Introduction to Probability covers the basics of probability theory, which is critical knowledge for developing and implementing effective risk management strategies.

See salaries and explore the career path for Risk Manager

Insurance Underwriter

Insurance Underwriters assess risk and set premiums for insurance policies for a variety of clients. Many Insurance Underwriters go on to become insurance brokers or insurance agents. An Intuitive Introduction to Probability covers the basics of probability theory, which is an essential foundation for an Insurance Underwriter to succeed in their role.

See salaries and explore the career path for Insurance Underwriter

Software Engineering Manager

Software Engineering Managers lead software engineering teams and ensure that software development projects are delivered on time and within budget. Probability plays a role in many aspects of software development, from developing algorithms to testing software. An Intuitive Introduction to Probability covers the basics of probability theory, which will help you understand and use probability effectively in your role as a software engineering manager.

See salaries and explore the career path for Software Engineering Manager

Operations Research Analyst

Operations Research Analysts use advanced analytical techniques such as probability and statistics to solve complex problems in a variety of industries. Many Operations Research Analysts go on to become Consultants. An Intuitive Introduction to Probability covers the basics of probability theory, which is an essential foundation for an Operations Research Analyst to succeed in their role.

See salaries and explore the career path for Operations Research Analyst

Systems Analyst

Systems Analysts analyze and design business systems and processes for a variety of organizations. A solid understanding of probability is helpful for Systems Analysts who work in the areas of risk management or compliance. An Intuitive Introduction to Probability covers the basics of probability theory, which will help you to develop a foundational understanding of important probability concepts.

See salaries and explore the career path for Systems Analyst

Financial Planner

Financial Planners provide financial advice to individuals and families. Many Financial Planners go on to become wealth managers. An Intuitive Introduction to Probability covers the basics of probability theory, which is helpful for understanding financial risks and investments.

See salaries and explore the career path for Financial Planner

Market Researcher

Market Researchers collect and analyze data about consumer behavior and market trends. Probability plays a role in many aspects of market research, from designing surveys to analyzing data. An Intuitive Introduction to Probability covers the basics of probability theory, which will help you develop a foundation in probability that can be applied to market research.

See salaries and explore the career path for Market Researcher

Reading list

We've selected 13 books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in An Intuitive Introduction to Probability.

Probability Theory

Save

Provides an in-depth overview of probability theory. It covers the fundamental concepts of probability, random variables, and stochastic processes. It is suitable as a supplementary reading for this course.

Probability Theory: A Concise Course (Dover Books...

Paperback

Probability Theory, Random Processes and...

Paperback

$$$

Probability Theory: Basic Concepts · Limit Theorems...

Paperback

$$$

Probability Theory: A Concise Course (Dover Books...

Kindle Edition

Introduction to Probability, Second Edition

Save

Provides a clear and concise introduction to probability theory. It covers the basic concepts of probability, conditional probability, and Bayes' theorem. It is suitable as a supplementary reading for this course.

An Intuitive Introduction to Probability

What's inside

Syllabus

Good to know

Save this course

Reviews summary

Intuitive probability

Activities

Career center

Reading list

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