ABSTRACT
Students begin studying probability and statistics early in their schooling, first very informally, and later with increasing abstraction. This area of mathematics can be most interesting to learn and to teach, as the applications pervade our daily life. The study of probability is, the study of the likelihood of events occurring and this is why probability is often defined as the study of chance. This chapter discusses some basic concepts and points out some interesting and thought-provoking ideas and issues of both probability and statistics. People often have very strong opinions about issues concerning probability. The chapter presents Kolmogorov's theoretical axioms for probability. Conditional probability has many real-life applications including uses in the medical field. The first misconception is that probability has some definitive predictive value. Another misconception in probability involves the notions of certainty that an event will or will not happen. Many practical examples have probability histograms that appear to be normal or approximately normal.
