LB104 Foundations of Probability

This lab covers the fundamentals of probability and statistics. The lab begins with a coverage of the fundamentals of combinatorics. It’s a branch of mathematics that deals with arrangements and combinations of elements in a set. It provides the tools to solve problems from the fields of probability and statistics. It’s indispensable in the fields of genetics, operation research, pharmacology, and many others. Studying combinatorics develops creativity in problem-solving skills. Then, we move to the coverage of probability and statistics, which are branches of mathematics that deal with uncertainty. Probability is the study of the likelihood of events to occur. It uses concepts like chance and probability distributions. Statistics deals with collecting, analyzing, and presenting data. It helps us make decisions and predictions. Probability and statistics form the foundation for decision-making in various fields such as analytics, engineering, science, finance, etc.