Probability theory, Applied Statistics

Assignment Help:

Origin and Development of probability Theory:

The credit for origin and development of probability goes to the European gamblers of 17th century. They  used to gamble  on games  of  chance  such as throwing  a dice, tossing  up a coin , horse  race, drawing  cards from a pack of cards etc.  For getting success in above games of chances. They started getting the help of mathematicians. By the deep study and calculations of these mathematicians the theory of probability originated. 

All Italian Mathematician Jerome cardoon(1501-1576)   was the first person to write a book on probability, Games  of chances which was published after his  death in 1663. In  this  book he mentioned all risks involved  and rules how to lessen  those risks  Galileo (1564-1642)  an Italian Mathematician, attempted  quantitative   measures  of probability for solving  the problems related  to the theory of dice in gambling. In  mid 17th century two French mathematicians  Blaise  Pascal (1623-1662)    mce_markernbsp; pierre   de fermat  gave  the systematic and scientific foundation of mathematical  theory  of probability. Swisss mathematician  James Bernoulli (1654-1705)  was another  brave and  strong man who made extensive study of the subject  for 2 decades  and introduced Bernoulli theorem and its theory in his book air conjectandi published in 1713  after his death in major contribution to the modern theory    of probability. In 1718 Abrahm de Moivre  (1667-1754)  published his book The  Doctrine of chances and contributed a lot to this subject.   

In 18th &19th century many mathematicians tried to develop scientific method for the development of different theorems of probability. Thomas Bayes (1702-1761) introduced the concept of inverse probability which is also known as bayes . Theorem Pierre Simon   de Laplace (1749-1827) after an extensive research published his book. Theory of Analytical  probability which constitutes the classical theory  of probability; Ronald fisher and von mises introduced empirical approach probability through an idea of sample  space, In 1926   mathematician frank Ramsey published his work the foundation of mathematics and other logical essays  in  which he introduced the theory  of subjective approach to probability. Which was developed  by Richard good Bernard, Coopman  and Lleonard  sweage. This concept is especially used in statistical decision theory.

The modern theory  of probability  was developed by a number of Russian   mathematicians like  Chebychev (1821-1894)  A  markov (1856-1922)  and A .N Kolmogarov. Kolmogarov axionised   the  theory  of probability  and  he published his work foundations of probability  in 1933  in which he introduced  probability as set function and regarded as a classic. 


Related Discussions:- Probability theory

Keno, Having 11 numbered balls -0 to 10 -into a basket and have 6 spaces t...

Having 11 numbered balls -0 to 10 -into a basket and have 6 spaces to be numbered with the balls selected in each 6 chances and it returned it back to the basket each time. Chanc

Median, Median Median is a position average. It is the value of middle ...

Median Median is a position average. It is the value of middle item of a variable when the items are arranged according to their values either in ascending or descending order.

Option price binomial tree, Modify your formulas from (1) to compute the pr...

Modify your formulas from (1) to compute the price at time 0 of an American put option with the same contract speci cations in the binomial model. Report the price of the American

Population census, what are the challenges affecting population census in d...

what are the challenges affecting population census in developing countries

Dispersion.., discuss the advantages and disadvantages of measures of dispe...

discuss the advantages and disadvantages of measures of dispersions

Normal distribution, Normal Distribution Meaning: According  to ya Lu...

Normal Distribution Meaning: According  to ya Lun Chou  There perfectly smooth and symmetrical  curve, resulting  from the expansion of the binomial (p+q) n    when n approac

Risk of portfolios, Risk of Portfolios So far, we have seen the applic...

Risk of Portfolios So far, we have seen the application of standard deviation in the context of risk in single investment. But usually most investors hold portfolios of securi

Determine the maximum weight rounded down, Assume that the pulley at A is a...

Assume that the pulley at A is a small frictionless pulley. The cord AB is only allowed to support a maximum tension in Newtons as given in P4, and the cord supporting the block ca

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd