Probability Homework Help
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The word ‘Probability’ has been derived from a Latin word probabilitas which means probity. The theory of probability started in the 17th century by two French mathematicians, Blaise Pascal and Pierre de Fermat. Probability Homework Help is the measure of quantifiable likelihood of occurrence of an event. Probability of an event always lies between 0 and 1 where 0 indicates impossibility and 1 indicates certainty. Probability is calculated usually through repeated random sampling. More likely is the occurrence of an event, higher is the probability. Probability can be mathematically expressed by dividing the number of occurrences of a targeted event and the number of occurrences plus the number of failures of occurrences (total possible outcome): p(x) = p(x)/ [p(x) +p(y)]. For example, in tossing of a fair (unbiased) coin, both the outcomes (heads and tails) are mutually exclusive and have equal probability. So probability of the coin landing H is 0.5 and the probability of the coin landing T is 0.5. The concept of probability is applied in fields like weather prediction computer programming, music, astrophysics etc. More basics is given under Probability Homework Help.
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Applications of Probability
Some applications of Probability given by Probability Homework Help are
• The theory of probability is useful in risk assessment and modeling. It helps insurance industry and markets to determine pricing and making trading decision.
• Probability is also helpful in fields such as biology and ecology.
• Another application of probability theory is reliability which is used in product designing to reduce the probability of failure.
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