Episode Details

Life and business choices are driven by assessments of probabilities, though you and I may not explicitly compute them. In this session, I start by looking at what probability measures, and how your prior views can alter your probability judgments (in the Bayesian model). I then look at probabilistic tools that you can use, with decision trees for sequential events, probit and logit models to make probability predictions and scenario analysis.
Slides: http://www.stern.nyu.edu/~adamodar/pdfiles/Statistics101/Slides/Session6.pdf
Post class test: http://www.stern.nyu.edu/~adamodar/pdfiles/Statistics101/postclass/session6test.pdf
Post class test solution: http://www.stern.nyu.edu/~adamodar/pdfiles/Statistics101/postclass/session6soln.pdf
Webpage for statistics class: http://people.stern.nyu.edu/adamodar/New_Home_Page/webcaststatistics.htm
YouTube Playlist for this class: https://www.youtube.com/playlist?list=PLUkh9m2BorqmXcRzWFbzcjMd7fYErVexF

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