Introducing probability – 175 words | QNT273 Introduction To Business Statistics | University of Phoenix

 

Probability is about mathematically determining how likely an event is to happen. Probability can be applied to many different aspects of our lives and help us make informed decisions.

Respond to the following in a minimum of 175 words:

  • Discuss the concept of probability, including the notion of an experiment, outcomes, and sample space. How can each of these be useful to us?
  • Describe an example from your own personal or professional experiences where you are focused on obtaining a specific, desired outcome. Evaluate what the ideal experiment, outcome, and sample space are for that situation. 
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