[In this module, students will learn about probability distributions important to statistical modelling, focussing primarily on probability distributions that underlie the stochasticity in time series data.
In addition, in this course we will be learning how to formulate figure-of-merit statistics that can help to answer research questions like “Is quantity A significantly greater/less than quantity B?”, or “Does quantity X appear to be significantly related to quantity Y?”. As we are about to discuss, statistics that can be used to answer these types of questions do so using the underlying probability distribution to the statistic. Every statistic used for hypothesis testing has an underlying probability distribution.]