How probabilities are used in the situation you chose

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Reference no: EM13910245

Explain in detail how probabilities are used in the situation you chose.

What makes probabilities useful in this situation? Do these probabilities affect decision making in this situation? Explain your answer.

Give a specific example of how probabilities are used in this situation.

How are probabilities important to decision making in this situation? If they are not, then discuss why not.

Choose a lottery game that you are familiar with, and find the odds and probabilities of winning that lottery game. Show exactly how these odds and probabilities are calculated. Discuss your findings as they relate to the possibility of winning.

What is the difference between the probability given in a weather forecast and the probability of getting three heads in a row when flipping a coin?

Reference no: EM13910245

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