Probability Theory
treats the probability concept in a rigorous mathematical manner by expressing it through a set of axioms
History
Probability was introduced in 16th century by Gerolamo Cardano.
Further developed by Pierre de Fermat and Blaise Pascal in 17th century
In 19th century, Pierre Laplace completed classical interpretation of probability.
In 1933, Andrey Nikolaevich Kolmogorov presented axiom system for probability.
Rules
Commutative Law
Associative Law
Distributive Law
Probability Events
Mutually Exclusive Event
Independent Event
Dependent Event
Applications
Communication
Weather Forecasting
Medical Decision
Calculating Statistics
Risk Evaluation in Business
Distributions
Discrete Distribution
Continuous Distribution
Joint Distribution
Non-numeric Distribution
Mixed Discrete/Continuous Distribution