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Real World Applications of Graphs and Probabilities - Essay Example
Although both parabola and hyperbola belong to a general class of conic shapes and after series of transformations equations of parabola and hyperbola can be rewritten in the same general form, their graphs are different.
Parabola looks somewhat similar to one of the two branches of hyperbola; however, there is an important difference between them - symmetry…
A parabola is symmetrical with regard to symmetry axis that goes through its vertex; a branch of a hyperbola is not necessarily symmetrical.
One area where probabilities are widely used nowadays is earthquake predictions (American Geophysical Union 1995 n/p). The probabilities of certain geological events that can lead to an earthquake are estimated for a given area and used to formulate important predictions.
Another field where applications of probabilities are extremely popular is business. Probabilities are used in financial models (Myerson, R 2001 p.1) as well as in supply chain, logistics, marketing forecasts etc.