Law of Total Probability

This lecture covers the Law of Total Probability, which states that for any event and its complement, the probability of another event can be calculated by considering all possible disjoint events. Through examples and exercises, the instructor demonstrates how to apply this law in real-world scenarios, such as calculating the probability of a bulb working for over 5000 hours given information about two factories. The lecture also introduces concepts like conditional probability, Bayes' Rule, and expected value of random variables, providing a comprehensive understanding of fundamental probability principles.