**Intro to Probability**

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Summary

The introduction to probability as covered in this module provides a foundational understanding of probability as a ratio, the significance of randomness, and basic strategies for calculating probabilities.

- Probability is defined as a ratio or fraction representing the number of successes over the total number of outcomes, with values ranging between 0 (impossible) and 1 (certain).
- The concept of randomness in mathematics implies that while individual events are unpredictable, the overall pattern of events is predictable.
- A simple example of calculating probability is determining the likelihood of a month name containing the letter 'R', which is demonstrated to be 2/3.
- Listing all possibilities is introduced as an elementary strategy for understanding and solving probability problems, though it's acknowledged that more complex strategies will be needed for the GMAT exam.
- The importance of understanding both the unpredictability of individual events and the predictability of the overall pattern is emphasized in the context of randomness.

Chapters

00:00

Understanding Probability

00:20

The Ratio Nature of Probability

03:32

The Concept of Randomness