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Companies use probability in many different ways. For example, they may use it for quality control, or for risk analysis.

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10y ago

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What are the use 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 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.


How does the science of probability affect decisions?

Probability is a subset of number theory. A huge branch of mathematics. It is not possible here to explain the ramifications of probability. Many of which are contrary to what appears to be common sense. Probability is used by insurance companies for instance.


What jobs use probability and how do they use it?

every sector that wants to exploit the ignorant mass, (ab-)uses probability


What is the probability of not rolling a seven?

That depends on how many dice you use. For example, if you use a single die, the probability is 100%.


What is a card game that involves probability?

Snap, bridge games use probability.


How do you use probability to help humankind?

there is a large probability that mankind will come to an end


When do you use probability?

its easy idiots, you use it when guessing :)


Use of probability in computer science and information technology?

application of probability in computer science


Why is it important to understand probability?

it is important to understand probability you may lose a good chance of winning something if you dont get or use probability at that time


When do you use poisson probability?

When you have independent events which have a constant probability of occurrence over an interval of space or time.


What do you use to calculate probability?

Probability is the ratio of the count of anticipated outcomes divided by the count of all outcomes.

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