Probability theory
Description
Probability theory is the branch of Mathematics concerned with probability. Although there are several different probability interpretations, probability theory treats the concept in a rigorous mathematical manner by expressing it through a set of axioms. Typically these axioms formalise probability in terms of a probability space, which assigns a measure taking values between 0 and 1, termed the probability measure, to a set of outcomes called the sample space. Any specified subset of the sample space is called an event. Central subjects in probability theory include discrete and continuous random variables, probability distributions, and stochastic processes (which provide mathematical abstractions of non-deterministic or uncertain processes or measured quantities that may either be single occurrences or evolve over time in a random fashion). Although it is not possible to perfectly predict random events, much can be said about their behavior. Two major results in probability theory describing such behaviour are the law of large numbers and the central limit theorem.
As a mathematical foundation for statistics, probability theory is essential to many human activities that involve quantitative analysis of data. Methods of probability theory also apply to descriptions of complex systems given only partial knowledge of their state, as in statistical mechanics or sequential estimation. A great discovery of twentieth-century physics was the probabilistic nature of physical phenomena at atomic scales, described in quantum mechanics.
Treatment
Most introductions to probability theory treat discrete probability distributions and continuous probability distributions separately. The measure theory-based treatment of probability covers the discrete, continuous, a mix of the two, and more.
Discrete probability distributions
Links with Probability distribution#Discrete probability distribution
Discrete probability theory deals with events that occur in countable sample spaces.
Examples: Throwing dice, experiments with decks of cards, random walk, and tossing coins
Continuous probability distributions
Links with Probability distribution#Absolutely continuous probability distribution
Continuous probability theory deals with events that occur in a continuous sample space.