Probability

  • V.G. Kulkarni
Chapter
Part of the Springer Text in Statistics book series (STS)

Abstract

Random phenomena are common in natural as well as in man-made systems. Weather is a natural random phenomenon, while the stock market is a man-made random phenomenon. Study of such random phenomena is vital if we are to understand their behavior, and predict (and possibly control) their future. The subject of probability provides us with a mathematical tool to do this.

Keywords

Drilling 

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Copyright information

© Springer Science+Business Media New York 1999

Authors and Affiliations

  • V.G. Kulkarni
    • 1
  1. 1.Department of Operations ResearchUniversity of North CarolinaChapel HillUSA

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