introduction to probability theory and applications

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 functions..

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 hous..

We are already familiar with graphical reorientation of linear equations and inequations. This chapter describes the application of linear equations and inequations in solving different kinds of practical problems. Let us consider few examples to understand what we mean by linear programm..

From our earlier chapter we know that, in statistical experiments, if the events A and B are independent, then But suppose the two events are not independent, that is the occurrence of one depends on the occurrence of other, then how do we compute This can be explained by conditional probabili..

Introduction - In our day to day life, we come across many uncertainty of events. We wake up in the morning and check the weather report. The statement could be 'there is 60% chance of rain today'. This statement infers that the chance of rain is more than that having a dry weather. We de..

Statistics - The scientific methods of collection of data, its classification and application to commerce and everyday life is called statistic..

Introduction - Suppose the two events are not independent, that is the occurrence of one depends on the occurrence of other, then how do we compute This can be explained by conditional probability. Baye's theorem is named after the British mathematician Thomas Bayes who publishe..

A set of numbers arranged in a definite order according to some definite rule is called a sequence . Sequences have wide applications. For example, the amount of money in a fixed deposit in a bank, over a number of years increases in a sequenc..

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

A travelling sales man can find the shortest routes to save time / fuel cost. The most economic and efficient manner of locating manufacturing plants and distribution centres may be used. Linear programming may be used for effective and efficient production management and manpower manageme..