DOIONLINE 
DOIONLINE Publish In |
International Journal of Management and Applied Science (IJMAS)-IJMAS |
 Journal Home Volume Issue |
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Issue |
Volume-3,Issue-4 ( Apr, 2017 ) | |||||||||
Paper Title |
The Real Life Applications of Probability in Mathematics | |||||||||
Author Name |
Ch Saraswathi, Sk Durga Moulali, A Nagamani | |||||||||
Affilition |
Department of Mathematics, GVR & S College of Engineering & Technology, Guntur – 522 013 (A.P.), India | |||||||||
Pages |
62-64 | |||||||||
Abstract |
Probability means the mathematical chance that something might happen, is used in numerous dayto- day applications, including in weather forecasts, Sports Strategies, Insurance Options, Games and Recreational Activities, Making Business. Probability theory is applied in life, where the life in risk management and in trade on financial markets It is mostly important for citizens to understand how probability assessments are made, and how they contribute to decisions. The large insurance corporations are probably the only corporations that devise their entire business strategy around probability. Another significant application of probability theory in everyday life is reliability. Probability and the ability to understand and estimate the likelihood of any different combination of outcomes versus one another are very important in real life. Keywords - Probability, Chances, Equally liked, Samples, Possibility, Uncertain. | |||||||||
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