Why Learn about Probability and Statistics?Date: 04/17/2002 at 00:31:30 From: Brianna Reichelt Subject: Probability Why is probability so important to learn? When will we use it in the real world? - Brianna Date: 04/17/2002 at 09:31:52 From: Doctor Mitteldorf Subject: Re: Probability Dear Brianna, It's one way to think about your world and the decisions you make every day. In living our lives, we're always taking on risks and exposing ourselves to dangers. We're trying things which we think will probably succeed, but we're not sure. Probability theory gives you one way to think about these decisions and may help you take control of them. You might enjoy reading the Dr. Math FAQ article on Probability in the Real World http://mathforum.org/dr.math/faq/faq.prob.world.html In professional life, more people use statistics than any other branch of mathematics. Experimental scientists use statistics every time they report their results, to give an indication of the accuracy of their measurements and the likelihood they may be wrong. Medical researchers use statistics to establish the likelihood that a drug or treatment will be effective. Social scientists use statistics to generalize about people's behavior, and marketers and political surveyers put the same kind of study to practical use for the benefit their clients. Insurance companies have a business plan that is entirely based on their understanding of statistical probabilities; if you think about it, banks are doing the same thing with their lending, but at risk levels that they hope are much lower. Every manufacturing company applies statistical techniques to quality control and customer satisfaction. The list goes on and on... - Doctors Mitteldorf and Sarah, The Math Forum http://mathforum.org/dr.math/ |
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