i.i.d. assumption, iid
independent and identically distributed
Independent means one event’s outcome doesn’t provide any information about another event. Identical means that if a subset of data is sampled from different parts of the dataset, the distribution is the same (identical parameters)
Reverse of Markov Chain sequence data.
Random Variables, when there are multiple, are mutually independent and all have the same Probability Distribution
The n samples your observed are considered as random variables.