11/13/2022 0 Comments Risk probability examples![]() Since I am not feeling well, it is very unlikely I will be going to a party tonight.She comes to work late nearly every day, so it is likely she is going to be reprimanded.Our team has won all of our football games this season, so it is likely we will defeat the worst team in the league when we play against them.That employee was rated "Employee of the Month" three times last year, so it is very likely she will receive a good evaluation.She did not pay her mortgage payment three months in a row, so it is possible her house will be foreclosed upon.There is a foot of snow on the ground, so it is extremely likely school will not be in session tomorrow.Because the ground is warm, it is very unlikely that the snow will stick.Since it is sunny and hot, it is very likely I will go to the pool today.Since it is 90 degrees outside, it is unlikely it will snow.Based on how poorly the interview went, it is unlikely I will get the job.Check out these fun examples of probability in everyday situations. You might not even realize you are expressing probability, but you are. Probability isn’t just expressed using mathematical percentages. You may not realize it, but most of the decisions you make every day are based on probability! Probability is used in a number of industries, including healthcare, scientific research and weather forecasting. impossible (probability of 0, the lowest possible likelihood).certain (probability of 1, the highest possible likelihood).Once you know the probability, you can determine the likelihood of an event, which falls along this range: Mathematical probability is expressed in fractions (½) and percentages (50%). Total number of outcomes: 2 (there are two sides to the coin) You can calculate an event's probability with the following formula:įor example, if you wanted to see how likely it would be for a coin to land heads-up, you'd put it into the formula like this: Number of ways a heads-up can occur: 1 The term probability refers to the likelihood of an event occurring. ![]()
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