I'm arguing with someone and I've become disturbingly rusty on theoretical statistics.
Let's say for example I draw a piece of paper with a number on it from a hat. The number is 0.00191. What can be said about the probability of that number appearing from that hat from that observation alone? Is the probability infinitely small or 100%? What is the significance of the probability estimate? Thanks in advance.
Let's say for example I draw a piece of paper with a number on it from a hat. The number is 0.00191. What can be said about the probability of that number appearing from that hat from that observation alone? Is the probability infinitely small or 100%? What is the significance of the probability estimate? Thanks in advance.
Probabilities with 1 observation
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