The book sets out fundamental principles of the probability theory, supplemented by theoretical models of random variables, evaluation of experimental data, sampling theory, distribution updating and tests of statistical hypotheses. Basic concepts of Bayesian approach to probability and two-dimensional random variables, are also covered. Examples of reliability analysis and risk assessment of technological systems are used throughout the book to illustrate basic theoretical concepts and their applications.

The primary audience for the book includes undergraduate and graduate students of science and engineering, scientific workers and engineers and specialists in the field of reliability analysis and risk assessment. Except basic knowledge of undergraduate mathematics no special prerequisite is required.