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Probability - Essay Example

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History shows that various statistical tools such as probability and distribution methods were developed around the sixteenth century. The time…
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Probability
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Probability

The word probability originated form the Latin word probare that means informal. It means that is there is nothing certain and exact associated with an event, and that happenings are uncertain and there are probabilities that are associated with them. Probability can be defined as the study that is concerned with locating certainty in uncertain events. Probability is known as the method of weighing evidence and opinion about uncertain and complex environment. Christiaan Huygens is supposed to be the first person to treat probability with scientific principles to provide a more refined form of the term in the year of 1657. There are several functions of probabilities. Distributions are considered one of them. These functions are used to assign the possible and probable events to the entire series of the events. There are several types of distribution too, that is continuous and discrete distribution. Probabilities distribution can be categorized into two classes: discrete and continuous. There are many ways to divide probability up in an equal and proportionate manner but the best possible method is to use the probability density function (Fadyen, 2003). Development in this field is taking place continuously and rapidly. The world is changing as never before due to technologies, and these technologies are dramatically affecting the speed and complexity of probability calculations. Computers and spreadsheets are just two important examples of this shift. The major gains in communication complexity and speed have also played an important role. And this is apositive aspect because the development in the field of statistical data analysis is often caused by advancement in the other fields in which the various methods of statistical data analysis are productively applied.
Probability is a statistical technique which is used for analyzing the situations that are confined by random events. For quantitative analysis of many human activities, which generally ... Read More
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