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These are the user uploaded subtitles that are being translated: 1 00:00:03,060 --> 00:00:05,880 Instructor: Welcome to yet another practical example. 2 00:00:05,880 --> 00:00:07,080 To make sure you understand 3 00:00:07,080 --> 00:00:09,750 how all of these new terms are applied in practice, 4 00:00:09,750 --> 00:00:12,390 we are going to go over some real-world data. 5 00:00:12,390 --> 00:00:15,510 In particular, we will examine student population statistics 6 00:00:15,510 --> 00:00:20,070 for Hamilton College during the 2017-18 academic year. 7 00:00:20,070 --> 00:00:23,040 We will apply Bayes' Law to determine whether the college 8 00:00:23,040 --> 00:00:26,400 is successfully diversifying its student population. 9 00:00:26,400 --> 00:00:28,950 Since the college only provides a four year program, 10 00:00:28,950 --> 00:00:31,350 any representation higher than 25% 11 00:00:31,350 --> 00:00:33,500 would indicate a higher than average value. 12 00:00:34,800 --> 00:00:37,140 Okay, to conduct our analysis 13 00:00:37,140 --> 00:00:39,090 we are going to examine the Common Data Set 14 00:00:39,090 --> 00:00:43,440 for Hamilton College for the 2017-18 academic year. 15 00:00:43,440 --> 00:00:45,929 The Common Data Set, or CDS for short, 16 00:00:45,929 --> 00:00:47,850 is a free public data set 17 00:00:47,850 --> 00:00:50,340 of summarized statistics about the demographic 18 00:00:50,340 --> 00:00:52,440 of the students attending a given college. 19 00:00:53,790 --> 00:00:54,960 A new data set is released 20 00:00:54,960 --> 00:00:57,930 after the start of every new academic year. 21 00:00:57,930 --> 00:01:00,450 Furthermore, these sets are available for public use 22 00:01:00,450 --> 00:01:03,000 and can be found either through the College Board website 23 00:01:03,000 --> 00:01:06,390 or the site of the specific college you're interested in. 24 00:01:06,390 --> 00:01:07,260 In this instance, 25 00:01:07,260 --> 00:01:09,810 we visited Hamilton College's official webpage 26 00:01:09,810 --> 00:01:12,573 and typed in CDS into the search bar. 27 00:01:13,830 --> 00:01:15,090 Out of the results of our search 28 00:01:15,090 --> 00:01:18,663 we chose the one for the 2017-18 academic year. 29 00:01:20,460 --> 00:01:21,293 Great. 30 00:01:22,170 --> 00:01:23,790 Now that you understand the data, 31 00:01:23,790 --> 00:01:25,050 we can start off by opening 32 00:01:25,050 --> 00:01:30,050 the CDS 2017-2018 PDF file attached to this lecture. 33 00:01:32,460 --> 00:01:36,240 As you can see, section A is titled General Information 34 00:01:36,240 --> 00:01:38,640 and includes basic information about the college. 35 00:01:38,640 --> 00:01:40,050 Like contact details 36 00:01:40,050 --> 00:01:42,930 and whether it is co-educational or not. 37 00:01:42,930 --> 00:01:45,240 This information is important in general 38 00:01:45,240 --> 00:01:47,190 but it is not relevant to our goal, 39 00:01:47,190 --> 00:01:50,853 so we skip it and jump to section B on the third page. 40 00:01:52,350 --> 00:01:55,500 This section is titled Enrollment and Persistence 41 00:01:55,500 --> 00:01:57,540 and it showcases enrollment in the college 42 00:01:57,540 --> 00:01:59,970 divided into different categories. 43 00:01:59,970 --> 00:02:01,970 Now, that's something we'll make use of. 44 00:02:02,940 --> 00:02:05,430 Let's start off by examining Table B1 45 00:02:05,430 --> 00:02:07,620 which showcases the distribution of students 46 00:02:07,620 --> 00:02:09,300 based on their gender. 47 00:02:09,300 --> 00:02:11,310 Since the survey students fill out to apply 48 00:02:11,310 --> 00:02:13,320 only has the options male and female, 49 00:02:13,320 --> 00:02:15,993 the data is split solely into these two groups. 50 00:02:17,130 --> 00:02:18,510 Now, let's spend some time ensuring 51 00:02:18,510 --> 00:02:20,100 you interpret the table correctly 52 00:02:20,100 --> 00:02:21,870 because we will be examining similar ones 53 00:02:21,870 --> 00:02:23,020 throughout the lecture. 54 00:02:23,970 --> 00:02:24,990 Start off by examining 55 00:02:24,990 --> 00:02:27,630 the four different columns in the table. 56 00:02:27,630 --> 00:02:30,060 They represent full-time and part-time students 57 00:02:30,060 --> 00:02:31,890 separated by gender. 58 00:02:31,890 --> 00:02:32,940 More precisely, 59 00:02:32,940 --> 00:02:35,850 the first column showcases full-time male students 60 00:02:35,850 --> 00:02:39,243 and the second one showcases full-time female students. 61 00:02:40,620 --> 00:02:42,120 The third and fourth column 62 00:02:42,120 --> 00:02:43,530 represent part-time male 63 00:02:43,530 --> 00:02:45,680 and part-time female students, accordingly. 64 00:02:47,460 --> 00:02:49,500 Now let us look at the rows. 65 00:02:49,500 --> 00:02:52,800 We see that they're split into two major groups as well, 66 00:02:52,800 --> 00:02:55,053 Undergraduates and Graduates. 67 00:02:56,520 --> 00:02:58,800 Since Hamilton is a liberal arts college, 68 00:02:58,800 --> 00:02:59,760 it is is an institution 69 00:02:59,760 --> 00:03:02,040 which only offers bachelor's degrees. 70 00:03:02,040 --> 00:03:04,290 There are not graduate students. 71 00:03:04,290 --> 00:03:06,150 This explains why no numeric values 72 00:03:06,150 --> 00:03:08,850 feature in the lower half of the table. 73 00:03:08,850 --> 00:03:10,680 Furthermore, all claims we make 74 00:03:10,680 --> 00:03:13,514 will be about undergraduate students. 75 00:03:13,514 --> 00:03:16,770 Therefore, the number 217 in the table 76 00:03:16,770 --> 00:03:19,710 is part of the first column and the first row. 77 00:03:19,710 --> 00:03:21,330 Therefore, the people included 78 00:03:21,330 --> 00:03:23,460 are simultaneously full-time males 79 00:03:23,460 --> 00:03:26,460 and degree seeking first time freshmen. 80 00:03:26,460 --> 00:03:27,810 In a Bayesian sense, 81 00:03:27,810 --> 00:03:31,050 these 217 students represent the intersection 82 00:03:31,050 --> 00:03:34,533 of the sets denoted in the first row and the first column. 83 00:03:36,510 --> 00:03:38,793 Let's observe the total undergraduates row. 84 00:03:40,500 --> 00:03:42,090 It includes all degree seeking 85 00:03:42,090 --> 00:03:44,590 and all other students enrolled in credit courses. 86 00:03:45,720 --> 00:03:48,330 This means that the value 1,000 we observe 87 00:03:48,330 --> 00:03:50,460 in the sixth row of the second column, 88 00:03:50,460 --> 00:03:53,219 is the union of all full-time undergraduate women 89 00:03:53,219 --> 00:03:54,483 in the college. 90 00:03:55,320 --> 00:03:57,210 Since there are no graduate students, 91 00:03:57,210 --> 00:03:59,190 1,000 is actually the union 92 00:03:59,190 --> 00:04:02,103 of all the full-time women in the entire college. 93 00:04:03,990 --> 00:04:05,700 Now, the union of all women, 94 00:04:05,700 --> 00:04:07,290 both full-time and part-time, 95 00:04:07,290 --> 00:04:11,520 would be 1,000 plus nine or 1,009. 96 00:04:11,520 --> 00:04:12,353 This is true 97 00:04:12,353 --> 00:04:14,310 because no students can be simultaneously 98 00:04:14,310 --> 00:04:16,529 part-time and full-time. 99 00:04:16,529 --> 00:04:18,839 A Bayesian way of expressing this relationship 100 00:04:18,839 --> 00:04:21,180 would be to say that the sets of part-time 101 00:04:21,180 --> 00:04:24,153 and full-time students are mutually exclusive. 102 00:04:25,710 --> 00:04:30,710 Additionally, we have 886 plus two, or 888 male students, 103 00:04:31,620 --> 00:04:33,420 attending the college. 104 00:04:33,420 --> 00:04:34,253 Below the table, 105 00:04:34,253 --> 00:04:36,810 we are provided with the total number of enrolled students, 106 00:04:36,810 --> 00:04:39,393 which is 1,897. 107 00:04:40,260 --> 00:04:44,460 Since there are 1,009 women and 888 men, 108 00:04:44,460 --> 00:04:46,653 they combine to complete the sample space. 109 00:04:47,820 --> 00:04:49,950 Furthermore, due to the nature of the survey, 110 00:04:49,950 --> 00:04:52,200 nobody was allowed to mark any answer different 111 00:04:52,200 --> 00:04:53,850 from male or female, 112 00:04:53,850 --> 00:04:56,970 so the two sets have no overlapping elements. 113 00:04:56,970 --> 00:04:58,320 Satisfying both conditions 114 00:04:58,320 --> 00:05:00,603 means the two sets are compliments. 115 00:05:01,530 --> 00:05:03,660 All right, now that you're well acquainted 116 00:05:03,660 --> 00:05:05,100 with how to read these tables, 117 00:05:05,100 --> 00:05:08,010 we will move on to a different part of section B. 118 00:05:08,010 --> 00:05:11,490 Namely, we will focus on the Racial/Ethnic diversity 119 00:05:11,490 --> 00:05:14,163 in the college summarized in table B2 below. 120 00:05:17,040 --> 00:05:18,300 We wanna use Bayes' Law 121 00:05:18,300 --> 00:05:20,100 to determine whether the student body 122 00:05:20,100 --> 00:05:23,220 is successfully diversifying its population. 123 00:05:23,220 --> 00:05:24,960 Therefore, we need to use the table 124 00:05:24,960 --> 00:05:26,850 to determine whether the freshman class 125 00:05:26,850 --> 00:05:30,483 is more diverse than the average for the specific ethnicity. 126 00:05:31,350 --> 00:05:33,900 To do so, we need to be able to accurately compute 127 00:05:33,900 --> 00:05:36,723 the appropriate size of each set. we are interested in. 128 00:05:37,830 --> 00:05:38,880 Let event A 129 00:05:38,880 --> 00:05:42,570 be for a Degree-Seeking First-Time First-Year student, 130 00:05:42,570 --> 00:05:47,490 and event B being Black or African American, non-Hispanic. 131 00:05:47,490 --> 00:05:50,160 For convenience, we are going to refer to elements of A 132 00:05:50,160 --> 00:05:53,823 simply as First-Years and elements of B as Black. 133 00:05:55,230 --> 00:05:58,500 Since we have a total of 1,897 students, 134 00:05:58,500 --> 00:06:01,110 and 480 of them are First-Years, 135 00:06:01,110 --> 00:06:03,000 then the probability of being a freshman 136 00:06:03,000 --> 00:06:07,313 equals 480 over 1,897 or 0.253. 137 00:06:09,510 --> 00:06:12,780 This suggests that approximately 25.3% 138 00:06:12,780 --> 00:06:14,613 of the student body are freshmen. 139 00:06:16,170 --> 00:06:18,450 Similarly, we can estimate the probability 140 00:06:18,450 --> 00:06:19,410 of a random student 141 00:06:19,410 --> 00:06:22,920 at the institution being of African American descent. 142 00:06:22,920 --> 00:06:27,920 That would equal 80 over 1,897 or 0.042, or close to 4.2%. 143 00:06:32,373 --> 00:06:33,900 Now, the intersection of A and B 144 00:06:33,900 --> 00:06:37,230 would represent all Black first year students. 145 00:06:37,230 --> 00:06:38,730 Going back to the table, 146 00:06:38,730 --> 00:06:42,870 only 26 students represent both demographics. 147 00:06:42,870 --> 00:06:45,390 The probability of being a Black, First-Year student 148 00:06:45,390 --> 00:06:50,390 is 26 over 1,897 or 0.014, which is close to 1.4%. 149 00:06:56,370 --> 00:06:58,830 We know the likelihood of a student being African American 150 00:06:58,830 --> 00:06:59,880 and we know the chance 151 00:06:59,880 --> 00:07:03,510 of a random student being both Black and a freshman, 152 00:07:03,510 --> 00:07:06,090 thus, we can use the conditional probability 153 00:07:06,090 --> 00:07:08,430 to see that the likelihood of a Black student 154 00:07:08,430 --> 00:07:10,320 being in his first year at the college 155 00:07:10,320 --> 00:07:14,493 is 26 over 80, or 0.325. 156 00:07:15,390 --> 00:07:17,340 This value is significantly greater 157 00:07:17,340 --> 00:07:20,010 than the expected average of 0.25, 158 00:07:20,010 --> 00:07:21,510 so we can see a rising trend 159 00:07:21,510 --> 00:07:24,753 in the representation of minority in the student population. 160 00:07:26,100 --> 00:07:28,470 The union of A and B represents all students 161 00:07:28,470 --> 00:07:31,980 who are either First-Time, First-Years or Black. 162 00:07:31,980 --> 00:07:34,500 We know that there are 481 First-Years. 163 00:07:34,500 --> 00:07:38,460 80 Black and 26 First-Year Black students. 164 00:07:38,460 --> 00:07:42,060 To find the number of students within the union of A and B, 165 00:07:42,060 --> 00:07:43,683 we would apply the Additive Law. 166 00:07:45,750 --> 00:07:47,280 According to the Additive Rule, 167 00:07:47,280 --> 00:07:52,280 we would have 480 plus 80 minus 26, or 534 students, 168 00:07:53,490 --> 00:07:56,130 that are either freshmen or Black. 169 00:07:56,130 --> 00:07:58,050 Once again, we would find the probability 170 00:07:58,050 --> 00:08:00,780 of being part of the union by dividing the size 171 00:08:00,780 --> 00:08:03,543 of the union by the size of the sample space. 172 00:08:04,380 --> 00:08:09,167 In this instance, that would be 534 over 1,897, or 0.281, 173 00:08:12,360 --> 00:08:16,500 which indicates that approximately 28.1% of the student body 174 00:08:16,500 --> 00:08:19,323 is either a freshman or identifies as Black. 175 00:08:20,700 --> 00:08:22,590 So far so good. 176 00:08:22,590 --> 00:08:25,470 Now, suppose C represents the set 177 00:08:25,470 --> 00:08:28,023 of all Hispanic/Latino students at the college. 178 00:08:28,920 --> 00:08:32,190 Since event B clearly says non-Hispanic, 179 00:08:32,190 --> 00:08:35,039 then the two must be mutually exclusive. 180 00:08:35,039 --> 00:08:38,400 Thus, the intersection of the two is the empty set 181 00:08:38,400 --> 00:08:41,370 but their union equals the sum of their elements. 182 00:08:41,370 --> 00:08:43,049 Therefore, according to the table, 183 00:08:43,049 --> 00:08:48,050 there must be 167 plus 80, or 247 students, 184 00:08:48,480 --> 00:08:51,843 who identify as either African American or Latino. 185 00:08:53,100 --> 00:08:55,200 The probability of picking a random student 186 00:08:55,200 --> 00:08:57,360 and them identifying as either one, 187 00:08:57,360 --> 00:09:02,360 equals 247 over 1,897, or 0.13, which equals 13%. 188 00:09:07,110 --> 00:09:08,670 Not that great as a percentage, 189 00:09:08,670 --> 00:09:10,473 but great work on figuring that out. 190 00:09:11,640 --> 00:09:12,960 You could surely find out these 191 00:09:12,960 --> 00:09:14,670 in other relationships on your own. 192 00:09:14,670 --> 00:09:16,500 However, let's dig a bit deeper 193 00:09:16,500 --> 00:09:18,650 and examine some conditional probabilities. 194 00:09:19,680 --> 00:09:22,200 In table B2, the entire first column 195 00:09:22,200 --> 00:09:26,370 only represents values for First-Year students. 196 00:09:26,370 --> 00:09:27,930 Therefore, any number we get 197 00:09:27,930 --> 00:09:29,790 would represent the size of the intersection 198 00:09:29,790 --> 00:09:32,910 of freshmen and another demographic. 199 00:09:32,910 --> 00:09:34,680 This is important when we wish to compute 200 00:09:34,680 --> 00:09:36,123 conditional probabilities. 201 00:09:37,950 --> 00:09:40,110 Recall that the conditional probability formula 202 00:09:40,110 --> 00:09:42,300 states that the likelihood of an event occurring 203 00:09:42,300 --> 00:09:44,490 given another event has already occurred, 204 00:09:44,490 --> 00:09:46,920 equals the likelihood of the intersection 205 00:09:46,920 --> 00:09:49,293 over the likelihood of the second event. 206 00:09:50,160 --> 00:09:53,070 A more precise example would be the following. 207 00:09:53,070 --> 00:09:54,690 The likelihood of being Black, 208 00:09:54,690 --> 00:09:56,340 given you are a freshman, 209 00:09:56,340 --> 00:09:59,520 equals the probability of being a Black freshman 210 00:09:59,520 --> 00:10:01,563 over the likelihood of being a freshman. 211 00:10:02,550 --> 00:10:05,880 We can simplify this to the size of the intersection 212 00:10:05,880 --> 00:10:07,743 over the size of the second set. 213 00:10:08,850 --> 00:10:13,850 In our example, that would mean 26 over 480, or 0.054. 214 00:10:14,460 --> 00:10:17,730 Therefore, there is a roughly 5.4% chance 215 00:10:17,730 --> 00:10:21,000 for any freshman student to identify as Black. 216 00:10:21,000 --> 00:10:22,830 Similarly, we can compute the likelihood 217 00:10:22,830 --> 00:10:25,173 of a given student to be Hispanic, First-Year. 218 00:10:26,280 --> 00:10:28,590 We can compute the likelihood of being a Latino, 219 00:10:28,590 --> 00:10:30,510 given you are in your first year of college 220 00:10:30,510 --> 00:10:32,700 as well as the likelihood of being a freshman 221 00:10:32,700 --> 00:10:34,533 and apply the multiplication rule. 222 00:10:35,850 --> 00:10:36,683 Let's begin. 223 00:10:38,580 --> 00:10:40,978 We start by examining events A and C 224 00:10:40,978 --> 00:10:44,430 being a First-Year and being Latino. 225 00:10:44,430 --> 00:10:45,840 The likelihood of being Latino, 226 00:10:45,840 --> 00:10:47,550 given you are a First-Year, 227 00:10:47,550 --> 00:10:50,671 equals the number of Latino students who are First-Years 228 00:10:50,671 --> 00:10:52,473 over all First-Years. 229 00:10:53,340 --> 00:10:54,480 According to the table, 230 00:10:54,480 --> 00:10:59,480 that equals 57 over 480, or 0.119, which is close to 12%. 231 00:11:02,460 --> 00:11:04,110 So far so good. 232 00:11:04,110 --> 00:11:06,150 Now that we've computed both probabilities, 233 00:11:06,150 --> 00:11:09,300 we can plug the values into the multiplication rule. 234 00:11:09,300 --> 00:11:13,200 The probability of being a freshman is 0.253 235 00:11:13,200 --> 00:11:14,940 and the probability of being Latino, 236 00:11:14,940 --> 00:11:18,900 assuming you are a First-Year, is 0.119. 237 00:11:18,900 --> 00:11:22,290 By multiplying the two, we get 0.03, 238 00:11:22,290 --> 00:11:25,803 or a 3% likelihood of being a Latino First-Year. 239 00:11:27,014 --> 00:11:28,860 Great job. 240 00:11:28,860 --> 00:11:30,450 What if we wanna find out the likelihood 241 00:11:30,450 --> 00:11:34,200 of being a freshman, given you are Hispanic? 242 00:11:34,200 --> 00:11:37,320 We could calculate this using two different ways. 243 00:11:37,320 --> 00:11:38,280 In the first one, 244 00:11:38,280 --> 00:11:41,010 we would simply apply the conditional probability formula 245 00:11:41,010 --> 00:11:42,330 like we did earlier. 246 00:11:42,330 --> 00:11:45,843 However, we could also apply Bayes' Law to solve this. 247 00:11:46,710 --> 00:11:47,970 According to the theorem, 248 00:11:47,970 --> 00:11:49,680 the likelihood of being a freshman, 249 00:11:49,680 --> 00:11:51,570 assuming you are Hispanic, 250 00:11:51,570 --> 00:11:53,790 equals the likelihood of being Latino, 251 00:11:53,790 --> 00:11:55,320 given you are a First-Year, 252 00:11:55,320 --> 00:11:57,810 times the probability of being a freshman 253 00:11:57,810 --> 00:12:00,930 over the probability of being Hispanic. 254 00:12:00,930 --> 00:12:03,840 Next, we estimate the likelihood of being Latino, 255 00:12:03,840 --> 00:12:08,840 which is 167 over 1,897, or 0.089, and that is close to 9%. 256 00:12:13,230 --> 00:12:16,350 We have estimated all three of the required probabilities 257 00:12:16,350 --> 00:12:20,333 and they are respectively equal to 0.119,0 .253, and 0.089. 258 00:12:24,600 --> 00:12:26,100 Plugging these values into the formula 259 00:12:26,100 --> 00:12:31,100 gives us 0.199 times 0.253 divided by 0.089, or 0.338. 260 00:12:37,530 --> 00:12:40,260 That means there is a 33% chance 261 00:12:40,260 --> 00:12:44,400 a student is a First-Year assuming they are Hispanic. 262 00:12:44,400 --> 00:12:46,620 Thus, we can say that a person is more likely 263 00:12:46,620 --> 00:12:49,020 to be a First-Year, given they are Hispanic, 264 00:12:49,020 --> 00:12:52,560 than to be Hispanic, given they are a freshman. 265 00:12:52,560 --> 00:12:55,050 If we think about the favored overall formula, 266 00:12:55,050 --> 00:12:57,660 this makes sense because there are more freshmen 267 00:12:57,660 --> 00:13:00,030 than Hispanic students in the college. 268 00:13:00,030 --> 00:13:02,130 Such a characteristic is fairly common 269 00:13:02,130 --> 00:13:04,920 among small liberal arts colleges in upstate New York, 270 00:13:04,920 --> 00:13:06,963 so the insight does not surprise us. 271 00:13:09,390 --> 00:13:10,473 Phenomenal work. 272 00:13:11,310 --> 00:13:13,740 We examined several tables from the Common Data Set 273 00:13:13,740 --> 00:13:17,280 for Hamilton College for the 2017-18 academic year 274 00:13:17,280 --> 00:13:19,080 and our short analysis suggests 275 00:13:19,080 --> 00:13:22,080 that the college is improving its minority representation 276 00:13:22,080 --> 00:13:24,030 with the current freshman class. 277 00:13:24,030 --> 00:13:26,340 However, further research would be required 278 00:13:26,340 --> 00:13:28,820 to account for attrition among the student population 279 00:13:28,820 --> 00:13:32,340 as well as moving to other colleges within the region. 280 00:13:32,340 --> 00:13:33,330 Even though our analysis 281 00:13:33,330 --> 00:13:35,250 may not have been full or conclusive, 282 00:13:35,250 --> 00:13:38,670 we made full use of our understanding of Bayesian notation 283 00:13:38,670 --> 00:13:41,190 to reach some insight about the data. 284 00:13:41,190 --> 00:13:43,590 This shows how important Bayesian inference is 285 00:13:43,590 --> 00:13:44,880 in terms of analytics 286 00:13:44,880 --> 00:13:46,680 and how understanding the relationship 287 00:13:46,680 --> 00:13:48,120 between sets and events 288 00:13:48,120 --> 00:13:50,760 can help us reach important conclusions. 289 00:13:50,760 --> 00:13:54,060 For homework, you can explore section C of the CDS 290 00:13:54,060 --> 00:13:57,690 which summarizes First-Time, First-Year admissions. 291 00:13:57,690 --> 00:14:00,420 Compute what the likelihood of a First-Time male student 292 00:14:00,420 --> 00:14:02,580 to be accepted, based on gender, 293 00:14:02,580 --> 00:14:04,680 and determine whether being male or female 294 00:14:04,680 --> 00:14:07,113 had any effect on your chances of acceptance. 295 00:14:08,040 --> 00:14:10,950 Furthermore, determine whether First-Time freshman women 296 00:14:10,950 --> 00:14:12,270 were more likely to enroll 297 00:14:12,270 --> 00:14:13,863 than first time freshman men. 298 00:14:14,700 --> 00:14:16,110 To find both of these, 299 00:14:16,110 --> 00:14:19,713 you need to examine only the tables in part C1 of the CDS. 300 00:14:21,390 --> 00:14:23,550 Additionally, you can practice your understanding 301 00:14:23,550 --> 00:14:25,380 of probabilities by exploring the values 302 00:14:25,380 --> 00:14:27,990 in table C2 and determining the likelihood 303 00:14:27,990 --> 00:14:30,720 of being offered a place on the wait list. 304 00:14:30,720 --> 00:14:33,660 Additionally, you can compute the chance of being admitted 305 00:14:33,660 --> 00:14:35,460 having accepted a place on the wait list 306 00:14:35,460 --> 00:14:37,350 and the likelihood of getting admitted 307 00:14:37,350 --> 00:14:39,753 given you are offered a place on the wait list. 308 00:14:40,800 --> 00:14:41,790 In the next section, 309 00:14:41,790 --> 00:14:43,020 we are going to start talking about 310 00:14:43,020 --> 00:14:44,700 probability distributions, 311 00:14:44,700 --> 00:14:45,990 how to properly apply them 312 00:14:45,990 --> 00:14:48,480 and why understanding the most commonly featured ones 313 00:14:48,480 --> 00:14:50,250 is so important. 314 00:14:50,250 --> 00:14:51,363 Thanks for watching. 24877

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