probabilistic models

Probabilistic models are mathematical frameworks used to predict uncertain outcomes based on known information. They work by assessing the likelihood of various events or scenarios occurring, taking into account the inherent randomness in situations. These models rely on probabilities assigned to different outcomes, allowing us to make informed decisions despite uncertainty. For instance, they can help forecast weather, understand stock market trends, or optimize resource allocation by quantifying risks and expectations. In essence, probabilistic models provide a structured way to navigate uncertainty and make predictions grounded in statistical evidence.