{"id":1257,"date":"2017-02-01T22:10:20","date_gmt":"2017-02-01T22:10:20","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/waymakermath4libarts\/?post_type=chapter&p=1257"},"modified":"2021-02-06T00:03:12","modified_gmt":"2021-02-06T00:03:12","slug":"computing-the-probability-of-an-event","status":"web-only","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/slcc-mathforliberalartscorequisite\/chapter\/computing-the-probability-of-an-event\/","title":{"raw":"Introduction to Computing the Probability of an Event","rendered":"Introduction to Computing the Probability of an Event"},"content":{"raw":"

What you\u2019ll learn to do: Calculate the probability of individual and overlapping events in a variety of problems<\/h2>\r\nProbability is the likelihood of a particular outcome or event happening. Statisticians and actuaries use probability to make predictions about events. \u00a0An actuary that works for a car insurance company would, for example, be interested in how likely a 17 year old male would be to get in a car accident. \u00a0They would use data from past events to make predictions about future events using the characteristics of probabilities, then use this information to calculate an insurance rate.\r\n\r\nIn this section, we will explore the definition of an event, and learn how to calculate the probability of it's occurance. \u00a0We will also practice using standard mathematical notation to calculate and describe different kinds of probabilities.\r\n\r\n\"\"<\/a>","rendered":"

What you\u2019ll learn to do: Calculate the probability of individual and overlapping events in a variety of problems<\/h2>\n

Probability is the likelihood of a particular outcome or event happening. Statisticians and actuaries use probability to make predictions about events. \u00a0An actuary that works for a car insurance company would, for example, be interested in how likely a 17 year old male would be to get in a car accident. \u00a0They would use data from past events to make predictions about future events using the characteristics of probabilities, then use this information to calculate an insurance rate.<\/p>\n

In this section, we will explore the definition of an event, and learn how to calculate the probability of it’s occurance. \u00a0We will also practice using standard mathematical notation to calculate and describe different kinds of probabilities.<\/p>\n

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Candela Citations<\/h3>\n\t\t\t\t\t
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