Welcome to Maestronet!!
Please read what @palousian said, because it's all accurate, except that I suspect that the violin was made post-WW II.
If your bow is like the one in the photo, you'll need a new cheap one (because the ones that come in sets are seldom worth rehairing), and you'll need to put something in the case to kill insects, because bows get in that condition due to a pest called "bow bugs", which eat the horsehair.
Student fiddles like that usually need a few things done to them, decent strings, cutting the bridge (the one they ship with will be a blank, with only the feet fitted), and doing the pegs for roundness and applying "peg dope".
I recommend either Pirastro Tonica or Warchal Karneol strings for student fiddles. While strings and bows are available online, getting the bridge and pegs done will require going to a violin shop. Because you should really pick the bow out by playing with it (all violins and bows are different), I'd recommend that you find a good local shop, and do everything at once. Good luck.