Chance events are commonplace in our daily lives. Every day we face situations where the result is uncertain, and, perhaps without realizing it, we guess about the likelihood of one outcome or another. Fortunately, mastering the concepts of probability can cast new light on situations where randomness and chance appear to rule. In this fully revised second edition of Understanding Probability, the reader can learn about the world of probability in an appealing way. The author demystifies the law of large numbers, betting systems, random walks, the bootstrap, rare events, the central limit theorem, the Bayesian approach, and more
