The Pennsylvania State University, Fall 2020

STAT/MATH 418, Section 003: Probability and Stochastic Processes



This course introduces the fundamentals and axioms of probability theory. Topics covered include:
combinatorial probability, the laws of probability, conditional probability and independence, Bayes'
Theorem, random variables, expectation, Gambler's Ruin, Chebyshev's inequality, Laws of Large
Numbers, and the Central Limit Theorem. Applications to engineering fields will be emphasized.

Throughout the course, we will monitor the New York Times and Centre Daily Times newspapers
for articles involving applications of probability. We will study the probabilistic information in such
articles and relate them to the subject of the course and to our everyday lives and experiences.

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