Christiaan Huygens was a Dutch scientist known for his work in physics and mathematics. The document discusses probability theory, beginning with an introduction to probability as a measure between 0 and 1 of the likelihood of an event occurring. It discusses applications of probability theory in risk assessment and financial markets. Experiments are described as having possible outcomes that can be counted using rules for combinations and permutations to assign probabilities.

1. Christiaan Huygens
Probability
By
Narendra Chauhan

2. Probability
1. Introduction to Probability
2. Applications
3. Experiments
4. Counting Rules
5. Assigning Probabilities

3. Introduction to Probability
Probability : - is a measure of the expectation
that an event will occur or a statement is
true. Probabilities are given a value between
0 (will not occur) and 1 (will occur). The
higher the probability of an event, the more
certain we are that the event will occur.

4. Introduction to Probability
Before the middle of the
seventeenth century, the term 'probable'
(Latin probabilis) meant approvable, and
Richard Jeffrey was applied in that sense, univocally, to
opinion and to action. A probable action
or opinion was one such as sensible
people would undertake or hold, in the
circumstances

5. Applications
Probability theory is applied in
everyday life in risk assessment and in
trade on financial markets. Governments
apply probabilistic methods in
environmental regulation

6. Experiments
Expriment Exprimental Outcomes
Toss a coin Win,lose,tie
Roll of die Purchase, No purchase
Play a Cricket game Head / tail
Conduct a sales call 1,2,3,4,5,6

7. Counting
Being able to identify and count
the experimental outcomes is a
necessary step in assigning probabilities.
Counting Rules.
1.Multiple-step experiment’s
2.Combinations
3.Permutations

8. Counting
1.Multiple-step experiment’s
The Multiple – step experiment’s is first
counting rule applies to multiple-step
Experiment’s

9. Counting
2. Combinations
A second useful counting rule allows one to count the
number of experiment mental outcomes when the
experiment involves selecting r objects from a (usually
Larger)Set of n objects. it is called the counting rule for
combinations.

10. Counting
3. Permutations
A third counting rule that is sometimes useful is the
counting rule for permutation. It allows one compute
the number of experimental outcomes when n object
are to be selected from a set of n object where the
order of selection is important the same r objects
selected in a different order are considered a different
experimental outcome

11. Assigning Probabilities
Now let us see how probabilities can be
assigning to experimenat outcomes. The three
approaches most frequently
1.Classical Method
2.Relatvie frequency Method
3.Subjective Method

12. Assigning Probabilities
1.Classical Method
The Classical Method of Assigning probabilities is
appropriate When all the experimental outcome are
equally

13. Assigning Probabilities
2.Relatvie frequency Method
The Relative frequency Method of assigning
probabilities is appropriate when Data are available to
estimate the proportion of the time the experimental
outcome Will occur if the experiment is repeated a large
number of time

14. Thank you