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examples of probability in real life

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Finley Hobbs Williams

on 12 May 2015

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Transcript of examples of probability in real life

There are a great deal of jobs which use probability as a part of their daily routine such as weather forecasters (to predict the possibility of raining on that day or using probability for other things to do with weather) , stock market investors and dealers (who speculate on how many invest in the stock and use probability to predict the future outcomes of the stock
What is probability?
Let's say that it's shop class and the band saw's blade just broke and the teacher replaced the broken blade with a new one and the probability of the blade breaking is extremely small but after each use the likely hood that the blade will break constantly increases over time of use and each use. From this you could easily say that it could be easily say that the blade being broken could easily be caused by someone making a mistake and that is incorrect but i disagree as no matter what there is a probability in every event making it nearly impossible to predict in some situations and thus i think that probability is less math and more speculation on the person's part.
Some examples
Probability is the chance of an event or possibility to occur.
This presentation will be about examples of this form of mathematics in real life.Please note that this will not include actions involving a human's thought or animals thought as these things are completely up to speculation.
Another example of using probability to people's personal gain are professional gamblers (particularly with card games like poker) who know the odds of what is going to come up in a round and predict outcomes and their likely hood to win the match as well as the likely hood of what your opponent has.
Another example is...
Another job or use of life that uses probability are people who give out insurance. They do this by doing background checks on the people or things they are insuring to determine how long they might live to determine the amount of profit made so if a non-existant profit is predicted they could revoke the insurance (not the nicest of practices to be a part of XD)
Yet another example....
The last example I have to show today is advertisers who use both info on their audience as well as what the latest trends are to find your interests.

This has been my presentation! hope you enoyed!
The final example....
Examples of probability in real life
Full transcript