write any two application probability
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Probability theory is applied in everyday life in risk assessment and modeling. The insurance industry and markets use actuarial science to determine pricing and make trading decisions.
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Gambling :
(also known as betting) is the wagering of money or something of value (referred to as "the stakes") on an event with an uncertain outcome, with the primary intent of winning money or material goods.
Step-by-step explanation:
list of applications of probability are provided in the pictures.
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