Statistics is a field of mathematics and logic that tackles problems and makes predictions by analyzing, organizing, and interpreting data.


Bayes’ Theorem Can Calculate Probable Truth Fact

Bayes’ theorem is a probability theory used to calculate the likelihood of an event being true or not true based on conditions related to the event. (i.e. an equation used for calculating conditional probabilities).

Past Outcomes of Random Events Affect Future Outcomes Myth

Past results of random independent events, like a coin flip, don’t affect future results. The mistaken belief that past results affect future results is known as “the Gambler’s Fallacy” (AKA the Fallacy of the Maturity of Chances, or the Monte Carlo Fallacy).