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Introduction
In our day to day life, we come
across many uncertainty of events. We wake up in the morning and check
the weather report. The statement could be 'there is 60% chance of rain
today'. This statement infers that the chance of rain is more than that
having a dry weather. We decide upon our breakfast from a statement that
"corn flakes might reduce cholesterol". What is the chance of getting a
flat tyre on the way to an important apartment? And so on.
How probable an event is? We
generally infer by repeated observation of such events in long term
patterns.
Probability is the branch of
mathematics devoted to the study of such events.
People have always been interested in
games of chance and gambling. The existence of games such as dice is
evident since 3000 BC. But such games were not treated mathematically
till fifteenth century. During this period, the calculation and theory
of probability originated in Italy. Later in the seventeenth century,
French contributed to this Literature of study. The foundation of modern
probability theory is credited to the Russian mathematician, Kolmogorov.
In 1993, he proposed the axioms, at which the present subject of
probability is based.
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