## Description

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