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Course Catalog  Probability and Its Applications   Course
Description   This is an introductory course in probability in
which we study the basic concepts of probability and apply them
to wide range of real life problems. The course starts with some
set theory (using Venn diagrams) and introduces basic counting.
Counting helps answering simple questions such as: “Is Warren
Buffet crazy? Or why does he offer$ for the correct March
Madness bracket?” Then, we discuss concepts such as conditional
probabilities, which will not only help your poker game, but
which will also help you understand “false positives” of medical
tests. If the pregnancy test is positive, how likely are you to
be pregnant? Towards the end of the course, we introduce the
concept of random variables and discuss some common probability
distributions. This allows us to model many interesting real
life situations. For example, call centers have an economic
interest in modeling the wait