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Demystifying the Concept of Probability

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  • Ashwannie Harripersaud

Abstract

This paper attempts to demystify the concepts underlying the study of probability. It also attempts to simplify the processes that govern the pragmatic use of probability. The paper employs practical examples in order to enable the use of probability in numerous fields, including sports, medicine, engineering, education, business, gambling, weather patterns, etc. At some point or another, we all employ probability without being aware that we are doing so. The conscious recognition that we are using probability makes our choices clearer and our decisions more informed.

Suggested Citation

  • Ashwannie Harripersaud, 2022. "Demystifying the Concept of Probability," International Journal of Statistics and Probability, Canadian Center of Science and Education, vol. 11(2), pages 1-1, March.
    • Handle: RePEc:ibn:ijspjl:v:11:y:2022:i:2:p:1
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    References listed on IDEAS

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    1. J.Z. Gao & D. Fong & X. Liu, 2011. "Mathematical analyses of casino rebate systems for VIP gambling," International Gambling Studies, Taylor & Francis Journals, vol. 11(1), pages 93-106, April.
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      JEL classification:

      • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
      • Z0 - Other Special Topics - - General

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