Axioms of probability theory
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Axioms of probability theory

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Any probabilistic model should satisfy the axioms of probability theory. Our first axiom is a nonnegativity axiom. Namely, probabilities will always be non-negative numbers.

The second rule is that the probability of event omega is equal to 1. The last axiom is called additivity axiom. If A intersection B is an empty set, then the probability of A union B, is equal to the sum of the probabilities of these two sets.

In mathematical terms, we say sets A and B are disjoint, which means that their intersection has no elements.

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