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Probabilty Assignment Help
Probability is one of the tools we use in our day to day activities. It uses a number which ranges from 0 to 1, where 0 denotes an event which cannot occur and 1 an event that is certain to occur. The following rules apply in probability:
- One event or another must occur
- Two or more events can occur simultaneously
A classical probability approach is based on considerations of symmetry and logic. It relies on the assumption that the outcomes have an equal likely chance of occurring. For example, when a coin is tossed there are equal chances of it landing on the head or tail. This approach originated from the games of chances such as tossing a coin, throwing a dice and playing cards.
Probability is very vital owing to its application in the following fields;
- Weather forecasting
- Population index and life expectancy calculation
- Gaming and betting
- Financial market risk assessment
Probability and statistics are so interrelated that it is impossible to study one and not the other. Researchers use probability theory to interpret results obtained from statistics. Statistics and probability are very wide and most of the time students tend to miss certain concepts. Most students fail in their probability assignments because;
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