Paper Title :The Real Life Applications of Probability in Mathematics
Author :Ch Saraswathi, Sk Durga Moulali, A Nagamani
Article Citation :Ch Saraswathi ,Sk Durga Moulali ,A Nagamani ,
(2017 ) " The Real Life Applications of Probability in Mathematics " ,
International Journal of Management and Applied Science (IJMAS) ,
pp. 62-64,
Volume-3,Issue-4
Abstract : Probability means the mathematical chance that something might happen, is used in numerous dayto-
day applications, including in weather forecasts, Sports Strategies, Insurance Options, Games and
Recreational Activities, Making Business. Probability theory is applied in life, where the life in risk
management and in trade on financial markets It is mostly important for citizens to understand how probability
assessments are made, and how they contribute to decisions. The large insurance corporations are probably the
only corporations that devise their entire business strategy around probability. Another significant application of
probability theory in everyday life is reliability. Probability and the ability to understand and estimate the
likelihood of any different combination of outcomes versus one another are very important in real life.
Keywords - Probability, Chances, Equally liked, Samples, Possibility, Uncertain.
Type : Research paper
Published : Volume-3,Issue-4
DOIONLINE NO - IJMAS-IRAJ-DOIONLINE-7787
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Copyright: © Institute of Research and Journals
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Published on 2017-06-23 |
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