Mathematics and Science can solve the most problems that we face in our daily world. If we read out our history, we can acknowledge it keenly. We just have to see in that way that every problem has a solution.
A few centuries ago, probability was fashionably used in gambling to predict the outcomes. But in today world, probability has a wide range of advantages more than we could imagine.
Starting from weather forecasting, predicting economic outcomes of a country, estimating world population, Insurance, a medical decision, stock market investing, etc.
The advantage of this probability is, knowing from the weather report that tomorrow it may rain, we can be prepared by having an umbrella. As simple as that.
In your earlier classes, you have studied the fundamentals of probability. In this chapter, we recall it and practice some problems to get a better understanding.
Probability means chances of occurrence of events. It is a way of measuring uncertainty.
Let's see some simple and familiar examples to understand this concept better.
We are getting old each day.Certain to happen.
It may rain today.It may or may not happen.
Sunrises from the West.Impossible to happen.
Head will come if you toss a coin.Possible to happen.
India was definitely going to win this match.India may win or lose.
Values of probability:
Probabilities can be expressed in terms of fractions, decimals or percent.
The values of probability range from \(0\) to \(1\).
If the particular event is certain to happen, then that probability will be \(1\).
If the event is cannot possibly occur, then the probability for that event is \(0\).
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