- Concepts ›
- Statistics ›

Published in Statistics category by MBA Skool Team

Axioms are propositions that are not susceptible of proof or disproof, derived from logic.

There are three axioms of Probability which are as under:

**First Axiom of Probability**

It states that the probability of any event is always a non-negative real number, i.e., either 0 or a positive real number. It cannot be negative or infinite. The smallest possible number is 0. The set of real number here includes both rational and irrational number.

However, it doesn’t put any upper limit on the value of probability of an event ( which can maximum be one as we know!)

**Second Axiom of Probability**

It states that the probability of all the events, i.e., the probability of the entire sample space is 1.

Mathematically, if S represents the Sample space, then P(S)=1.

This means that there are no events outside the sample space and it includes all possible events in it.

**Third Axiom of Probability**

Two events which don’t have anything in common, i.e., which don’t intersect are called mutually exclusive.

This axiom states that for two event A and B which are mutually exclusive,

**P (A U B) = P(A)+ P(B)**

Similarly, extending the result to n mutually exclusive events X1, X2, X3, X4 and so on,

P(X1 U X2 U X3 U X4 U ......)= P(X1) + P(X2) + P(X3) + P(X4) +.......

Hence, this concludes the definition of Axioms of Probability along with its overview.

This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.

Browse the definition and meaning of more similar terms. The Management Dictionary covers over 1800 business concepts from 5 categories.

Continue Reading:

Important Definitions:

What is MBA Skool?About Us

MBA Skool is a Knowledge Resource for Management Students, Aspirants & Professionals.

Business Courses

Quizzes & Skills

Quizzes test your expertise in business and Skill tests evaluate your management traits

Related Content

All Business Sections

Write for Us

Write & Contribute Business Content