Understanding the Notion of Probability for the Non-Statisticians

Abstract

In our day-to-day life, we face a bunch of uncertainty in most of the real activities. The approach of probability is to quantify such uncertainties associated with the outcomes of any random experiment. A chance of occurrence of any statistical phenomenon can be calculated on the basis of some well-defined rules, called axioms. As a function of event, probability can be calculated on the subjective ground that again decides logically for the given setup of a random experiment. This article explains some key aspects of theoretical notion of probability and its mathematical calculations through some real examples.