|Class 11 Maths Probability||Probability|
Probability is the measure of uncertainty of various phenomenon, numerically. It can have positive value from 0 to 1.
The words ‘probably’, ‘doubt’, ‘most probably’, ‘chances’, etc., used in the statements above involve an element of uncertainty.
Concept of Probability is used in insurance industry to calculate the premium; it is also used in stock markets, gambling industry, weather forecasting, manufacturing industry, Science Experiments etc.
Probability started with Gambling industry. In 1654, a gambler Chevalier de Mere, approached the 17th century French philosopher and mathematician Blaise Pascal regarding certain dice problems. Pascal became interested in these problems, studied them and discussed them with another French mathematician, Pierre de Fermat. Both Pascal and Fermat solved the problems independently. This work was the beginning of Probability Theory.
Probability is a measure of uncertainty of various phenomenons.
Probability = (no. of favorable outcome)/ (total no. of outcomes)
Approach to Probability:
In this chapter we will focus on Axiomatic Approach to Probability.