Probability: An Introduction

Probability is the quantitative measure of the likelihood of an event occurring or the likelihood that a given proposition is true. Its values range from 0 to 1, where 0 represents impossibility and 1 represents certainty. In practice, probability is interpreted through two main perspectives: objectivist and subjectivist. Objectivists assign numerical values based on objective or physical states of affairs, while subjectivists assign numbers according to subjective probabilities. The field of probability has broad applications across diverse areas, including computer science, philosophy, mathematics, artificial intelligence and machine learning, finance, statistics, and game theory. It is also extensively used in risk assessment, modeling, biology, ecology, and financial management. This book is a compilation of chapters that discuss the most vital concepts in the field of probability. It presents the complex subject in the most comprehensible and easy to understand language. This book, with its detailed analyses and data, will prove immensely beneficial to professionals and students involved in this area at various levels.