Chapter 1 Introduction to Probability

Probability theory is a branch of mathematics concerned with the study of uncertainty and randomness. It provides a framework for quantifying uncertainty and making predictions in situations where outcomes are undetermined. Probability theory is widely used in fields as diverse as statistics, finance, science and engineering to model and analyse uncertain situations and to make informed decisions based on the likelihood of different outcomes.

In this chapter, we will introduce some basic concept of the probability, include sample space, event, axioms of probability, conditional probability, and Bayes’ theorem.