Kolmogorov's Axioms

Kolmogorov's Axioms form the foundation of probability theory. They outline three key principles: 1. **Non-negativity**: The probability of any event is always a non-negative number (0 or more). 2. **Normalization**: The total probability of all possible outcomes in a certain scenario equals 1, meaning something is bound to happen. 3. **Additivity**: For mutually exclusive events (events that cannot happen at the same time), the probability of either event occurring is the sum of their individual probabilities. These axioms help us quantify uncertainty and make informed predictions in various fields, from finance to science.