Question

What is the use of probability in our daily life?

Answer 1

Though probability tells about a chance. But then also it has a wide rage of applications in real life.
Sports – In sports like cricket, basketball or football.A coin is tossed and both teams have 50/50 chances of winning it, a basketball player takes a free throw judging his past performance it can be determined if he will make it or not.
Board Games – A game spinner with four sections, there is a 25% chance of it landing red, since one of the 4 sections is red. Similarly the odds of rolling one die and getting and even number there is a 50% chance since three of the six numbers on a die are even.
Medical Decisions – When a patient is advised to undergo surgery, they often want to know the success rate of the operation which is nothing but a probability rate. Based on the same the patient takes a decision whether or not to go ahead with the same.
Life Expectancy – this is based on the number of years the same groups of people have lived in the past. “These ages are used as guidelines by entities such as financial advisers to help clients prepare for their retirement years.”

Weather – when planning an outdoor activity, people generally check the probability of rain. Meteorologists also predict the weather based on the patterns of the previous year, temperatures and natural disasters are also predicted on probability and nothing is ever stated as a surety but a possibility and an approximation.