Lesson 4
1. Lesson 4
1.7. Lesson 4 Summary
Module 1: Probability
Lesson 4 Summary
In this lesson you looked at how probability and odds can be used to help both businesses and individuals make decisions. Probability and odds are typically used when you want to predict what will happen based on past occurrences, or when you want to predict information about a large number of objects when you know information about some of the objects.
When using probability and odds, it is important to consider where the information came from and when its use is reasonable.