Abstract
Probability theory provides a mathematical model for the study of randomness and uncertainty. The concept of probability occupies an important role in the decision-making process, whether the problem is one faced in business, in engineering, in government, in sciences, or just in one’s own everyday life. Most decisions are made in the face of uncertainty. The mathematical models of probability theory enable us to make predictions about certain mass phenomena from the necessarily incomplete information derived from sampling techniques. It is the probability theory that enables one to proceed from descriptive statistics to inferential statistics. In fact, probability theory is the most important tool in statistical inference.
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