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Because there are many events whose outcomes cannot be determined. However, using probability it may be possible to make a good estimate as to the outcome.
Because there are many events whose outcomes cannot be determined. However, using probability it may be possible to make a good estimate as to the outcome.
Because there are many events whose outcomes cannot be determined. However, using probability it may be possible to make a good estimate as to the outcome.
Because there are many events whose outcomes cannot be determined. However, using probability it may be possible to make a good estimate as to the outcome.
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What are real life examples of probability?
# of successes = probability or change total
Relation between expected return in real life and probability?
no
Application of statistics in real life?
Statistics is used in many places especially when you are the head of a business and you need to calculate probability and things like that.
What is probability in everyday life?
Probability in real life can be said as something that usually happens. No one can predict the future, however; one can determine how likely it is that something will or will not happen.
How can the probability of a coin landing on heads or tails be useful in real life?
There are many event, in real life, which have binary outcomes (A or B0 which are equally likely. In studying such situations the coin probabilities are obvious analogies.
