Every day we encounter uncertainty – will the traffic be heavy today, what is the chance of rain, or is it likely the power grid will overload during a heat wave? Probability helps us to deal with this uncertainty by indicating the chances of events occurring. This improves both our understanding of a situation and our consequent decision making.
This video describes the concept of probability and how to obtain probabilities of events in relatively simple situations. It doesn’t build specifically on any of the previous videos; however, you may benefit from watching ‘Introduction to Statistics’ and ‘Random Variables’.