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What Probability Assignments Are All About
Probability is an integral part of statistics course and you will need to learn this well to clear your exams and finally gain your degree. Probability comes into play when there is great degree of uncertainty and this is what probability is all about. It helps businesses, social scientists to make assumptions and expectations over the outcomes of their decisions. Despite lacking consistency in results, there is heavy dependence on probability in the statistical studies. Some common examples of probability may explained by the following scenario. The weather is rainy today. Whether it will rain or not is a matter of uncertainty and requires probability analysis. Secondly, certainly shares on the stock market will go up or not is also a matter of probability. In order to determine the uncertain outcome of certain decisions, issues, the use of probability becomes inevitable. Gambling is another prominent area where probability is frequently used to determine the results.