Editing Probability Theory (section)

== <span style="color: #FFFFFF;">Understanding</span> ==
Probability is understood through '''Frequency''' and '''Belief'''.

'''1. The Frequentist View''': Probability is what happens in the long run. If you flip a coin 1 million times, it will be heads 50% of the time. $P(Heads) = 0.5$.

'''2. The Bayesian View''': Probability is a "Degree of Belief." If I say there is a 70% chance of rain, I am expressing my confidence based on the current data. As soon as I see a dark cloud, I update my belief.

'''3. Distributions''':
* '''Binomial''': Used for "Yes/No" outcomes (e.g., How many people will click this ad?).
* '''Poisson''': Used for events happening over time (e.g., How many emails will I get in an hour?).
* '''Normal''': Used for natural traits (e.g., Height, IQ, Measurement errors).

'''The Gambler's Fallacy''': The mistaken belief that if something happens more frequently than normal during a given period, it will happen less frequently in the future (and vice versa). If you flip 5 heads in a row, the 6th flip is ''still'' 50/50. The "Universe" has no memory.
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