Probability is the chance (in percentage or decimal) of a particular event to happen.
lets say that you tossed a coin. the possible events to happen are ending up with heads or tails. the probability of having a head is 50% or .5 while the probability of having a tails is 50% or .5.
to solve for the probability, divide the particular event with the total number of possible events.
ex. what is the probability of getting a 3 when you rolled a dice?
particular event= having a 3= 1 event
total number of events= having either a 1, 2, 3, 4, 5, or 6= 6 events
particular event/ total number of events= 1/6
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There are many different problems and different ways for solving them.
P(A)=.35 P(B given A)=0.6 P(A and B)= ?
Companies use probability in many different ways. For example, they may use it for quality control, or for risk analysis.
When you have independent events which have a constant probability of occurrence over an interval of space or time.
Medical records and health information technicians use probability in their jobs when calculating the number of charts to audit.