Instructional Video: Fundamentals of Probability

Topic Progress:

Miller, Mathematics & Statistics for Financial Risk Management, Probabilities is a 44-minute instructional video analyzing the following concepts:

* Describe and distinguish between continuous and discrete random variables.
* Define and distinguish between the probability density function, the cumulative distribution function and the inverse cumulative distribution function, and calculate probabilities based on each of these functions.
* Calculate the probability of an event given a discrete probability function.
* Distinguish between independent and mutually exclusive events.
* Define joint probability, describe a probability matrix and calculate joint probabilities using probability matrices.
* Define and calculate a conditional probability, and distinguish between conditional and unconditional probabilities.

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