2 Introduction

The purpose of this chapter is to provide an introduction and overview about the various aspects of uncertainty:

• Usefulness of learning about probability, statistics, and regression models
• Installing R and RStudio

There is also a YouTube video and slides associated with this chapter:

• Introduction to Probability and Statistics - Video
• Introduction to Probability and Statistics - Slides

You are also encouraged to review a video on some Basic Mathematical Tools.

There are a few books that may serve as a reference:

• A Modern Introduction to Probability and Statistics - Understanding Why and How by Frederik Michel Dekking, Cornelis Kraaikamp, Hendrik Paul Lopuhaä, and Ludolf Erwin Meester.
• Introductory Econometrics - A Modern Approach by Jeffrey M. Wooldridge. This book is the standard literature in many regression classes.
• Basic Econometrics by Damodar N. Gujarati. An excellent book that can serve as a reference for many years.