Prediction (Grade 11 NSC Matric Mathematical Literacy): Flashcards
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Practise the cards
10 cards from this deck
Prediction in probability
Prediction in probability
Using past events to estimate future outcomes
How probability values are determined
How probability values are determined
By observing patterns and trends in past events
What probability describes over time
What probability describes over time
Likelihood over a period, not each individual event
Effect of more data on predictions
Effect of more data on predictions
More data makes predictions more accurate
4 steps in making predictions from data
4 steps in making predictions from data
Collect data, identify patterns, calculate, predict
How insurance companies use prediction
How insurance companies use prediction
Track accident data to set rates for different groups
Why males pay higher insurance rates
Why males pay higher insurance rates
Historical data shows higher accident risk for males
Difference between prediction and certainty
Difference between prediction and certainty
Probability is prediction, not certainty - no guarantee
Individual events vs overall trends
Individual events vs overall trends
Individual events may vary, but overall trends hold true
Effect of multiple years of data
Effect of multiple years of data
Predictions become more reliable with several years' data