basic probability theory

In Mathematics, a well-defined collection of definite objects is called a set. George Cantor is regarded as the "Father of Set theory". The concept of "Sets" is basic in all branches of mathematics. It has proved to be of particular importance in the foundations of relations and..

Introduction - Statistics is about collection of information and its presentation and about drawing inferences from these. We come across facts and figures in the newspapers, Television and the radio. The numerical figures are called "the data". If we have to draw good inferences from information c..

Objective Function - The Objective Function is a linear function of variables which is to be optimised i.e., maximised or minimised. e.g., profit function, cost function etc. The objective function may be expressed as a linear expressio..

After the elementary study in probability, let us see how we can utilise this basic knowledge in solving problems of different are..

Axiomatic approach to probability closely relates the theory of probability to set theory. Let S be the sample space of an experiment. Probability is a function, which associates a non-negative real number to every event A of the sample space denot..

Two major applications of probability theory in everyday life are in risk assessment and in trade on commodity markets. Governments typically apply probabilistic methods in environmental regulation where it is called "pathway analysis". Example: In a housing colony..

The graphical method of solving an LPP is possible only if there are two decision variables (say x and y). This method is not suitable if there are three or more decision variables. In this case, there is a powerful method called 'simplex method'. The wide usage of liner programming helps in ..

In a random experiment, considering S(the sample space) as the universal set, let A, B and C be the events of S. We can define union, intersection and complement of events and their properties on S, which is similar to those in set theory. ii) A-B is an event, which is same as ''A but ..

Set - A well-defined collection of distinct objects is called a se..

In Mathematics, a well-defined collection of definite objects is called a set. George Cantor is regarded as the "Father of Set theory". The concept of "Sets" is basic in all branches of mathematic..