Probability Theory

prəˈbäb(ə)lədē ˈTHēərē

Probability theory is a branch of mathematics that deals with the analysis of random phenomena. It provides a framework for quantifying uncertainty and making predictions based on data. Key concepts include events, outcomes, probabilities, and random variables. Probability theory is widely used in various fields such as statistics, finance, science, and engineering to model uncertainty and inform decision-making processes. Common applications include risk assessment, statistical inference, and machine learning algorithms.