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Probability and the ability to understand and estimate the likelihood of any different combination of outcomes versus one another are very important in day to day life. There are a number of different types of activities people engage in that involve probability and chance whether they realize it or not. Some of these activities involve things like being late for work, saving money or signing up for a class.

Know MoreProbability and chance both study the possibilities of different things happening based on a few known factors. Often, scientists, mathematicians and statisticians attempt to use idealized models of the real world to predict the behaviors and outcomes of certain people and scenarios. These can be used to try and understand probability in daily life. Almost every possible activity or outcome has a probability. For example, someone might wonder about the probability they will get a high enough grade on a test they have taken or if they will be accepted for a job they applied for. Some people worry about the probability that their bus or train might be late and make them late for work or the probability that the interest rates at their banks will go down. Some of these things can be modeled and estimated effectively with probability and statistical methods.

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## What is disjoint probability?

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Full Answer >**In probability, disjoint events are mutually exclusive, meaning that if one of the possible disjoint events occurs, the other cannot occur.**For example, when a driver reaches an intersection, she may turn left or right, or go straight, but may not turn and go straight. Turning and driving straight are therefore disjoint events.Filed Under: - Q:
## What is a coin toss simulation?

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Full Answer >**A coin toss simulation uses software to mimic the act of tossing a coin many times to demonstrate how frequency affects probability.**With two possible outcomes (heads or tails), most observers assume even odds, or 50 percent, but tossing a coin only a few times may show uneven outcomes. By increasing the frequency of tosses, the result gets close to 50 percent, demonstrating how frequency affects outcomes.Filed Under: - Q:
## What is a binomial experiment?

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Full Answer >**A binomial experiment is a type of probability distribution in statistics that defines the probability of only two possible outcomes.**This experiment involves a specific number of independent trials that lead to exclusively dichotomous alternatives.Filed Under: - Q:
## What is experimental probability?

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Full Answer >**Experimental probability is the probability that an event occurred in the duration of an experiment.**It is calculated by dividing the number of event occurrences by the number of times the trial was conducted.Filed Under:

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