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Brief History of probability

Abstract

Plato (428-348 BC) and his famous student Aristotle (384-322 BC) used to debate the philosophical meaning of the word chance in ancient times. Antimenes (530-510 BC), a Greek, invented the first insurance system in 324 BC, which guaranteed a sum of money against victories or losses in specific occurrences. Because of the various uncertainties in everyday life, such as health, weather, birth, death, and games, the concept of chance or random variables as an experiment's outcome was born (for example, the length of an object, the height of people, the temperature in a city in a given day). Almost all mathematical and scientific measures have the fundamental quality that the results fluctuate from trial to trial. To put it another way, results are, in general, random. As a result, the quantity we're interested in measuring is referred to as a random variable. 

Pheobe Johnson

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