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1332.0.55.002 - Statistical Language!, 2008  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 27/06/2008  First Issue
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Contents >> Probability >> Benefits and downfalls of Probability

BENEFITS AND DOWNFALLS OF PROBABILITY

Probability allows us to predict the likelihood of an event occurring when it is repeated several times. One of the major benefits of probability is that its fraction can be converted into a percentage. This in turn means that useful predictions can be made in a wide range of areas, including economics, population growth, gambling and even the weather.


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