Ultimate Guide to Probability


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File Type: pdf

File Size: 3.8 MB

Pages: 45

Publication Year: 2018



In our day to day life, we are more familiar with the word ‘chance’ as compared to the word ‘probability’. The chance of occurrence of a particular event is what you study in probability.

This guide starts with the basic fundamentals of the probability concept, along with examples.

Topics Covered

  • Probability – an experimental approach
  • Empirical probability
  • Probability – a theoretical approach
  • Random experiment
  • Event and types of event
  • Algebra of event
  • Axiomatic approach to probability
  • Conditional probability
  • Multiplication theorem on probability
  • Independent events
  • Total probability theorem
  • Bayes’ theorem
  • Random variable and its probability distribution
  • Mean and variance of random variable
  • Bernoulli trials and Binomial distribution