answersLogoWhite

0


Best Answer

how theory of probability used in real life

User Avatar

Wiki User

13y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: 2 examples how the theory of probability is applied in real life situations?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about Statistics

What are the answers to Probability Theory Worksheet 2?

The answer is: WORK THEM OUT


What is the relationship between statistical inference and probability theory and how do I support it with examples?

Probability theory is the field of mathematics that enables statistical inferences to be made. All equations used in statistical inferences must be based on mathematics (theorems and proofs) of probability theory. An example to illustrate this. Given a normal probability curve with a mean = 0 and variance of 1, 68% of the area under the curve is in the range of -1 to 1, as calculated from probability theory. Since it is proved by mathematics, we can state it as a fact. If we collect data, and the average of the data is zero, and the standard deviation is 1, then we can infer that we are 68% certain that the population mean lies between -1 to 1. Our conclusion is inferred based on our limited and imperfect sample and the assumption that our population is normally distributed.


Who discovered probability?

Blaise Pascal and Pierre de Fermat started corresponding over an issue on mathematics of gambling, from which the theory of probability developed in 1654.


When did the study of probability begin?

A gamblers dispute in 1654 led to the creation of a mathematical theory of probability by two famous French mathematicians, Blaise Pascal and Pierre de Fermat. Antoine Gombaud, Chevalier de Méré, a French nobleman who was interested in gaming and gambling questions, called Pascal's attention to an apparent contradiction concerning a popular dice game. The game consisted in tossing a pair of dice 24 times; the problem was to decide whether or not to bet even money on the occurrence of at least one "double six" during the 24 throws. A seemingly well established gambling rule led de Méré to believe that betting a double six in 24 tosses would be profitable, but when he did his own calculations they indicated the opposite.This and some other problems posed by de Méré led to an exchange of letters between Pascal and Fermat in which the fundamental principles of probability theory were formulated for the first time. Although a few special problems on games of chance had been solved by some Italian mathematicians in the 15th and 16th centuries, no general theory was developed before this famous correspondence.The Dutch scientist Christian Huygens learned of this correspondence and in 1657 published the first book on probability: titled De Ratiociniis in Ludo Aleae, it was a treatise on problems associated with gambling. Because of the inherent appeal of games of chance, the theory soon became popular and the subject developed rapidly during the 18th century. The people who mainly contributed during this period were Jakob Bernoulli and Abraham de Moivre.In 1812 Pierre de Laplace introduced a host of new ideas and mathematical techniques in his book, Théorie Analytique des Probabilités. Before Laplace, probability theory was only concerned with developing a mathematical analysis of games of chance. Laplace applied probabilistic ideas to many scientific and practical problems. The theory of errors, actuarial mathematics, and statistical mechanics are examples of some of the important applications of probability theory developed in the 19th century.Like so many other branches of mathematics, the development of probability theory has been stimulated by the variety of its applications. Conversely, each advance in the theory has enlarged the scope of its influence. Mathematical statistics is one is one important branch of applied probability; other applications occur in such widely different fields as genetics, psychology, economics and engineering. Many workers have contributed to the theory since Laplace's time: among the most important are Chebyshev, Markov, von Mises and Kolomogorov.One of the difficulties in developing a mathematical theory of probability has been to arrive at a definition of probability that is precise enough for use in mathematics, yet comprehensive enough to be applicable to a wide range of phenomena. The search for a widely acceptable definition took nearly three centuries and was marked by a lot of controversy. The matter was finally resolved in the 20th century by treating probability theory on an axiomatic basis. In 1933 a monograph by a Russian mathematician A. Kolmogorov outlined an axiomatic approach that forms the basis for the modern theory. Since the ideas have been refined somewhat and probability theory is now part of a more general discipline known as measure theory.


Importance of probability in life?

I can not give you a simple answer. It is very individual and subjective. I will assume that you are referring to probability theory. Statistics is based on an understanding of probability theory. Many professions require basic understanding of statistics. So, in these cases, it is important. Probability theory goes beyond mathematics. It involves logic and reasoning abilities. Marketing and politics have one thing in common, biased statistics. I believe since you are exposed to so many statistics, a basic understanding of this area allows more critical thinking. The book "How to lie with statistics" is a classic and still in print. So, while many people would probably say that probability theory has little importance in their lives, perhaps in some cases if they knew more, it would have more importance.

Related questions

What is two examples on how theory of probability is being applied in real situations?

by throwing a coins or dice? maybe...


What has the author Dubes written?

Dubes has written: 'The theory of applied probability' -- subject(s): Probabilities, Engineering mathematics, Statistical communication theory


Examples of convergence theory applied to sa economy?

When you pick your nose because you have a runny nose.


What has the author Alvin W Drake written?

Alvin W. Drake has written: 'Fundamentals of applied probability theory' -- subject(s): Probabilities


What is unimodal curve?

a branch of applied mathematics concerned with the collection and interpretation of quantitative data and the use of probability theory to estimate population parameters


When is probability theory used in statistics?

All the time. Statistic is based on the application of probability theory!


Who established the link between probability and staistics?

Statistics is based on probability theory so each and every development in statistics used probability theory.


What does statistics consist of?

Probability theory and distributive theory.


What is a math major?

A bachelors in math may be theoretical or applied. Theoretical has to do with computation of abstract thought such as probability, chaos theory, Calculus theory, etc.Applied math has to do with things like engineering, computational biology, computer math and the like.


What is the difference between probability and statistics?

Sl.no Probability Statistics 01 Probability deals with predicting the likelihood of future events statisticsinvolves the analysis of the frequency of past events 02 Probability is primarily a theoretical branch of mathematics, which studies the consequences of mathematical definitions Statistics is primarily an applied branch of mathematics, which tries to make sense of observations in the real world. 03 probability theory enables us to find the consequences of a given ideal world Statistical theory enables us to measure the extent to which our world is ideal.


Who invented the probability theory?

Bascal paul


Could the Chaos Theory and the Theory of Six Degrees be related?

Chaos Theory and the Theory of the Six Degrees have little to no overlap; they're not really related. There are some mathematical probabilities associated with the Six Degrees, and Chaos Theory is rooted in mathematics. But the former can be looked at as a "probability thing" and the latter an "anti-probability" or "probability resistant" thing.