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Probability is the likelihood of something occurring in the environment based on specific factors. Why is...

Probability is the likelihood of something occurring in the environment based on specific factors. Why is probability significant in society? What could you use probability for (school, crime, business)? Be specific. Use personal implications of probability in your life.

Math   Statistics-And-Probability   
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Answer #1

Probability comes into play whenever there is randomness. Probabilitic models can be used to study various aspects of our social life. We can ask questions like: What is the probability that more than 50% of the students will score above 90% in a test? Or what is the probability that a randomly chosen college student takes illegally acquired drugs? Or what is the probability that a new scheme would increase the profit for a company. In study of all the above, we need to deal with randomness. Hence, we usually form probabilistic models and then try to answer the questions.

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