What is probability? How is probability concept used in making business decisions? Please explain with real life examples.© BrainMass Inc. brainmass.com March 4, 2021, 7:52 pm ad1c9bdddf
Probability is the chance that something is likely to happen or be the case. Probability theory is used extensively in areas such as statistics, mathematics, science and ...
The solution explains the concept of probability in detail.