= Theory of Probability and Its Applications
{wiki=Theory_of_Probability_and_Its_Applications}
The Theory of Probability is a branch of mathematics that studies randomness and uncertainty. It provides a framework for quantifying the likelihood of various outcomes and events, allowing us to make informed decisions based on that uncertainty. Key components of the theory include: 1. **Basic Definitions**: Probability is defined as a measure that quantifies the likelihood of an event occurring, with values ranging from 0 (impossible event) to 1 (certain event).
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