5 Common Applications of Probability in Real Life
Probability is a well-known mathematical term that, in simple words, can be defined as the possibility of occurrence of an event. Knowingly or unknowingly, we use this phenomenon in our day-to-day life to make decisions when are we are dubious about the outcomes, such as while playing cards, tossing a coin, or assuming the weather forecast. Most of the times, we don’t perform actual probability problems but use subjective probability to come to a conclusion and determine the best course of action.
The concepts and theories of probability are widely used in various fields of study, including statistics, science, stock exchange, artificial intelligence, finance, product designing, gambling, machine learning, computer science, philosophy, and game theory. Below we have discussed a few common applications of probability in real life:
1. Weather Forecasting
Meteorologists make the use of probability theories and concepts to predict the weather. Since they can’t make accurate weather forecast, so they use tools and instruments to determine how likely rain, snow or hail is to happen. The meteorological department also asses historical databases to predict high and low temperatures and weather patterns for a day or entire week.
2. Insurance Policies
Probability plays a crucial role in the analysis of insurance policies in order to determine which plan are best for you or your family and what insurance deductible you need. Even insurers use probability theory to calculate and manage risk when analyzing policy applications and setting premium rates.
3. Sports Strategies
In various sports, probability is used to decide what are the possibilities of winning or losing of a particular team based on their record. Similarly, it is put to use in order to plan the best sports strategies for games and competitions. For instance, a cricket coach evaluates a batsman’s batting average when placing him in the lineup. Also, by tracking the record of a baseball player, it is decided at what place he should play.
4. Games and Recreational Activities
Probability, along with permutation and combination, has great application in traditional card games, such as rummy and poker. Players unknowingly use the concepts of probability when calculating their possibilities of getting the particular care they need. Similarly, video games and board games drive a player to think in terms of probability.
5. Medical Science
In medical science, probability is used to analyze survey or research data, make clinical decisions, determine the risk factors for contracting a disease, and for being cured. It is also used to deduce the success or failure of medical tests and treatment outcomes. Also, when a patient is advised to undergo surgery, he wants to know the success rate of the operation. It is nothing but a probability rate on the basis of which he takes further decision.
These were a few everyday situations that can’t be predicted with total certainty. The best way we can measure their likelihood is by using the idea of probability. If you are pursuing a degree course in probability and desire to build a successful career in this field, then we suggest you devote most of your time in studying probability theories and solving its problems and equations.
Leave your assignment writing work to us as we have got the best academic experts who are highly proficient at offering excellent probability assignment help to students based in Australia. Take a read through some of the outstanding features of our services that make us a notch above the rest:
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Probability is a well-known mathematical term that, in simple words, can be defined as the possibility of occurrence of an event. Knowingly or unknowingly, we use this phenomenon in our day-to-day life to make decisions when are we are dubious about the outcomes, such as while playing cards, tossing a coin, or assuming the weather forecast. Most of the times, we don’t perform actual probability problems but use subjective probability to come to a conclusion and determine the best course of action.
The concepts and theories of probability are widely used in various fields of study, including statistics, science, stock exchange, artificial intelligence, finance, product designing, gambling, machine learning, computer science, philosophy, and game theory. Below we have discussed a few common applications of probability in real life:
1. Weather Forecasting
Meteorologists make the use of probability theories and concepts to predict the weather. Since they can’t make accurate weather forecast, so they use tools and instruments to determine how likely rain, snow or hail is to happen. The meteorological department also asses historical databases to predict high and low temperatures and weather patterns for a day or entire week.
2. Insurance Policies
Probability plays a crucial role in the analysis of insurance policies in order to determine which plan are best for you or your family and what insurance deductible you need. Even insurers use probability theory to calculate and manage risk when analyzing policy applications and setting premium rates.
3. Sports Strategies
In various sports, probability is used to decide what are the possibilities of winning or losing of a particular team based on their record. Similarly, it is put to use in order to plan the best sports strategies for games and competitions. For instance, a cricket coach evaluates a batsman’s batting average when placing him in the lineup. Also, by tracking the record of a baseball player, it is decided at what place he should play.
4. Games and Recreational Activities
Probability, along with permutation and combination, has great application in traditional card games, such as rummy and poker. Players unknowingly use the concepts of probability when calculating their possibilities of getting the particular care they need. Similarly, video games and board games drive a player to think in terms of probability.
5. Medical Science
In medical science, probability is used to analyze survey or research data, make clinical decisions, determine the risk factors for contracting a disease, and for being cured. It is also used to deduce the success or failure of medical tests and treatment outcomes. Also, when a patient is advised to undergo surgery, he wants to know the success rate of the operation. It is nothing but a probability rate on the basis of which he takes further decision.
These were a few everyday situations that can’t be predicted with total certainty. The best way we can measure their likelihood is by using the idea of probability. If you are pursuing a degree course in probability and desire to build a successful career in this field, then we suggest you devote most of your time in studying probability theories and solving its problems and equations.
Leave your assignment writing work to us as we have got the best academic experts who are highly proficient at offering excellent probability assignment help to students based in Australia. Take a read through some of the outstanding features of our services that make us a notch above the rest:
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