4. Discuss the difference and the relationship between "Probability" and "Statistics". 5. A coin is flipped until 3 heads in succession occur. List only those elements of
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Extra Insights
Probability is like a crystal ball that predicts the chances of certain events happening based on defined circumstances. For example, the probability of flipping a head on a fair coin is 50%. Statistics, on the other hand, is the clever detective that digs into past data to uncover insights and trends. You use statistics to analyze data, interpret results and make informed predictions about future events based on historical outcomes. When flipping a coin until you get three heads in a row, you're looking at sequences like HHH (heads-heads-heads occurring immediately) or sequences that include tails, like TTHHHT. Elements reflecting this include combinations such as HHT, HTH, THH, and so forth, each constructing potential paths to that sought-after triple head sequence, bringing randomness into a pattern!