The mathematical study of the likelihood and probability of events occurring based on known information and inferred by taking a limited number of samples. Statistics plays an extremely important role in many aspects of economics and science, allowing educated guesses to be made with a minimum of expensive or difficult-to-obtain data.

## A First Course in Probability – Sheldon M. Ross – 5th Edition

This market leader is written as an elementary introduction to the mathematical theory of probability for students in mathematics; engineering;…