Basic Concepts of Probability

If mathematics is the queen of sciences, then probability is the queen of applied mathematics. The concept of probability originated in the seventeenth century and can be traced to games of chance and gambling. Games of chance include actions like drawing a card, tossing a coin, selecting people at random and noting number of females, number of calls on a telephone, frequency of accidents, and position of a particle under diffusion. Today, probability theory is a well-established branch of mathematics that finds applications from weather predictions to share market investments. Mathematical models for random phenomena are studied using probability theory.