Difference Between Probability and Statistics
Probability vs Statistics
Probability is a measure of the likelihood of an event to occur. Since probability is a quantified measure, it has to be developed with the mathematical background. Specifically, this mathematical build of the probability is known as the probability theory. Statistics is the discipline of collection, organization, analysis, interpretation, and presentation of data. Most statistical models are based on experiments and hypotheses, and probability is integrated into the theory, to explain the scenarios better.