ABSTRACT
The Bowtie Methodology is used for risk analysis and to be able to do that I need to quantify the hazards (their severity and probability/frequency). Doing that, I specify the risk. This chapter provides all the necessary explanations regarding probability and frequency calculations in different situations. In addition, their connection with the theory of mathematical sets is shown. By pointing and explaining the knowledge necessary to be proficient in probability, this chapter explains one of the fundamental tools for using the BM in practice. Here I present different situations with probabilities regarding dependent and independent events. Combinatorial analysis (variations, permutations, and combinations) is also explained.
