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It is used in insurance and health care to look at how risky it is to offer a policy to a given person or group. In Las Vegas, it is used in all games. When looking at reactions to medications, people look at the odds that a given person will have an adverse outcome. There are many more, but this gives you an idea.
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What is the Uses of probability?
The uses of probability could be for the lottery, black jack or, your math homework. Actuaries use probability factors to determine costs and risks. It is an entire science of its own and has a certification process. Insurance companies hire many actuaries to do probability calculations and create mortality tables.
Who uses probability?
No one! It's pointless in life and will get you nowhere.
Relatively frequency probability uses group information and applies it to information?
Not necessarily.
What is sampling examine well known methods of probability and nonprobability sampling in statistic?
Non probability sampling and probability sampling are different because probability sampling uses random samples. Non probability sampling aren't random, but can still be representative of the population as a whole if done correctly.
What are three practical uses for pascals triangle?
There are a variety of practical uses for Pascal's triangle. Some of these include algebra, probability, as well as triangular numbers.
Who uses empirical probability?
Help! I have no clue what profession uses empirical probability. Linda in Nevada
Uses of probability?
ratio and gambling
What type of probability uses a knowledge of sample spaces as opposed to experiments to determine the numerical probability that an event will occur?
Theoretical probability.
What type of probability is when it uses sample spaces to determine the numerical probalitiy that an event will happen?
Classical Probability!
What is the Uses of probability?
The uses of probability could be for the lottery, black jack or, your math homework. Actuaries use probability factors to determine costs and risks. It is an entire science of its own and has a certification process. Insurance companies hire many actuaries to do probability calculations and create mortality tables.
What jobs use probability and how do they use it?
every sector that wants to exploit the ignorant mass, (ab-)uses probability
What are the uses of probability in business decision making?
# Probability is used in business to evaluate financialand decision making risk. # Probability is used to improve business performance.
Are there any good uses for probability?
One Word----VEGAS!
Who uses probability?
No one! It's pointless in life and will get you nowhere.
Is it true or false that the histogram of a probability distribution uses the physical area of each bar to represent its assigned probability?
False.
Are there any good uses to probability?
For lucratif reasons, i'd say it would be nice if a casino owner, or his staff, knows something about probability.
What uses branches together to show possible combination called?
A probability tree.
