Introduction

Probability is considered as a measure of expectation about occurrence of an event. Probability is given a corresponding value from 0 to 1 depending upon the chances of occurrence. If the probability of an event’s occurrence is higher which means close to 1 then there are more chances of the event’s occurrence whereas if the probability of an event’s occurrence is lower which means close to 0 then there are lower chances of the event’s occurrence. The concept of probability is given a mathematical place by a theory known as probability theory. This theory is used greatly in various ...