Sample space and events, axioms of probability; Conditional probability, independence and the Bayes Rule; Random variables, discrete probability distribution, continuous probability distribution, joint probability distribution; Mean, variance, covariance and correlation; Some discrete probability distributions: uniform, binomial, hyper geometric, geometric, negative binomial and Poisson; Some continuous probability distributions: normal, exponential, gamma, chi-Squared, lognormal and Weibull; Sampling distributions; Confidence intervals; Hypotheses Testing; Regression and correlation analysis

CILO-1: Be able to find mean and variance of a discrete/continuous random variable. CILO-2: Be able to formulate and solve basic probability problems. CILO-3: Understand and be able to solve problems on binomial, Poisson and normal distributions. CILO-4: Be familiar with skills of hypothesis testing on means, proportions and variances. CILO-5: Understand the basics of linear regression and correlation.