Application of probability in business, Mathematics

Application of Probability in Business

1. Business games of chance for illustration, Raffles Lotteries.

2. Insurance firms: this is generally done when a new client or property is being insured.  The company has to be certain about the chances of the insured risks happening.

3. Business decision making regarding viability of projects hence the projects along with a greater probability has greater chances.

 

Posted Date: 2/18/2013 6:54:30 AM | Location : United States







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