What is probability theory?
Arian Maleki and Tom Do Stanford University Probability theory is the study of uncertainty. Through this class, we will be relying on concepts from probability theory for deriving machine learning algorithms. These notes attempt to cover the basics of probability theory at a level appropriate for CS 229.
What are the applications of probability theory in engineering?
A cursory survey of engineering reveals the widespread application of probability theory. Such diverse fields as systems analysis, decision theory, statistics, automatic control, modern management, and cybernetics all rely on a probabilistic approach. Chalkboard photographs from all the videocassettes are provided in the lecture notes.
How is probability applied in everyday life?
Probability theory is applied in everyday life in risk assessment and modeling. The insurance industries and markets use actuarial science to determine pricing and make trading decisions. Government applies a probabilistic method in environmental regulation, entitlement analysis and financial regulation.
What are the uses of probability in government?
Government applies a probabilistic method in environmental regulation, entitlement analysis and financial regulation. In addition to these, probability can be used to analyze trends in Biology (e.g. Disease spread) as well as ecology (eg. biological Punnett squares).
An Introduction to Probability Theory and Its Applications vol 2