Application of probability in real life pdf

Game theory models force each player to consider the action made by their competitor and plan the next strategy. In politics: Diplomats and politicians use game theory to analyze any situation of conflict between individuals, companies, states, and political parties. It is also used in war strategies, political voting, and political affairs. In philosophy: Philosophers use game theory in various aspects of philosophy.

In biology: It is applied to the analysis of the abnormal natural phenomenon in biology. Probability plays a vital role in the day to day life.

In the weather forecast, sports and gaming strategies, buying or selling insurance, online shopping, and online games, determining blood groups, and analyzing political strategies. Written by Nethravathi C, the Cuemath teacher. Tossing the coin: A coin has two faces, heads and tails. Math Concepts. Table of Contents 1. Introduction 2. What is probability?

Probability in Mathematics 4. Examples of Real Life probability 5. Summary 6. Introduction On tossing a coin, the outcome will be either ahead or a tail, the result is easily predictable. The likelihood of the occurrence of any event can be called Probability. Application of probability Some of the applications of probability are predicting the outcome when you: Flipping a coin. Choosing a card from the deck. Throwing a dice.

Pulling a green candy from a bag of red candies. Winning a lottery 1 in many millions. Probability in Mathematics Al-Khalil, a middle eastern mathematician, wrote the Book of Cryptographic Messages, which demonstrates the first use of permutation and combination to list all the Arabic words with or without vowels. Formula to calculate the probability Examples of Real Life probability Weather Planning: A probability forecast is an assessment of how likely an event can occur in terms of percentage and record the risks associated with weather.

Sports Strategies: In sports, analyses are conducted with the help of probability to understand the strengths and weaknesses of a particular team or player.

Example A cricket coach evaluates a player's batting and bowling capability by taking his average performances in previous matches before placing him in the lineup.

Insurance: insurance companies use the theory of probability or theoretical probability for framing a policy or completing at a premium rate.

Example Issuing health insurance for an alcoholic person is likely more expensive compared to the one issued to a healthy person. In a typical Lottery game, each player chooses six distinct numbers from a particular range. If all the six numbers on a ticket match with that of the winning lottery ticket, the ticket holder is a Jackpot winner- regardless of the order of the numbers. The probability of this happening is 1 out of 10 lakh.

There is a probability of getting a desired card when we randomly pick one out of The baseball analogy is horrible. Prev Article Next Article. Weather Forecasting Before planning for an outing or a picnic, we always check the weather forecast. Batting Average in Cricket Batting average in Cricket represents how many runs a batsman would score before getting out.

Flipping a coin or Dice Flipping a coin is one of the most important events before the start of the match. Insurance Probability helps in analyzing the best plan of insurance which suits you and your family the most. Are we likely to die in an accident? Lottery Tickets Winning or losing a lottery is one of the most interesting examples of probability.

Playing Cards There is a probability of getting a desired card when we randomly pick one out of Related Posts. Excellent examples. Therefore, the results would form a uniform distribution from 1 to 6.

Poisson distributions give the probability of something happening a specific number of times if it typically happens at a fixed pace and each event is independent of previous events. An example case is an online education service that usually gets five students in the period between 8 pm and pm and needs to calculate the probability of getting seven students in that session.

A normal distribution is a very general type of distribution, which looks like a bell. Some of the examples are heights of men in India, measurement errors, IQs. In U distribution, points are more likely to be at the ends of a range than in the centre.

Weibull models are used to represent various types of perceived failures of components and events.