Lesson 19: Changing Your View Of Your World: Slide  28

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Probability And Risk Came Into Being As Ideas In The 1600’s

  • Probability came to be defined as “with the appearance of truth”
  • By the end of the 17th Century mathematical tools were developed to begin estimating the probability of an event happening or not happening
  • Tools were first developed to assist rich men and those men who wanted to get rich by gambling

Notes:

Pg.48-49, “Against The Gods The Remarkable Story of Risk,” Peter L. Bernstein, John Wiley and Sons, Inc. , 1996

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