What are some common challenges in probability theory?

What are some common challenges in probability theory?

Some common challenges include understanding conditional probability, dealing with independence, and applying Bayes' theorem.

Can you explain conditional probability?

Sure! Conditional probability is the probability of an event occurring given that another event has already occurred.

How does Bayes' theorem work?

Bayes' theorem relates the conditional and marginal probabilities of random events, allowing us to update our beliefs based on new evidence.

What are some practical applications of probability theory?

Probability theory is used in various fields like finance for risk assessment, in medicine for predicting disease spread, and in AI for decision-making.

What resources can I use to learn more about these concepts?

You can check out textbooks like 'Probability and Statistics' by Morris H. DeGroot, or online courses on platforms like Coursera or Khan Academy.