Health Insurance, Poker, Investing, Blackjack and Lottery. What do these things among many others have in common? Yup you guessed it right, Probability. Probability is the science of estimating likelihood of something happening. The likelihood of getting a heads on coin. The likelihood of a stock going up. The likelihood

In the last post we've discussed about central tendencies, and how they can help us understand where the data is mostly centered around. However, this begs the question of how to understand the variation in the data. I mean from our earlier example for understanding mean central tendency, we know