Probabilities In Everyday Life

Stopping a plague (even zombies), tomorrow’s likelihood of rain, and buying a lottery ticket are united by chance. Wildlife conservation, a baseball box score, and governmental spending are united by the need to record numbers. Statistics and probability measure the current state of something and the relative likelihood of potential future states. This book will explore how common experiences are counted, evaluated, and used to make intelligent decisions for the future based on uncertain outcomes.

Life can be unpredictable. And the more you can predict, the more control you will have over your own life. From calculating the health risks of smoking a pack of cigarettes a day to deciding on the best investments for your money, probabilities play a part in nearly all aspects of everyday life. Now, physics professor John D. McGervey puts all the facts and figures at your fingertips to help you make savvy, informed choices at home, at work, and at play. You will learn how the author believes you can: * Increase your chances of winning blackjack, contract bridge, horse racing, sports betting, and more * Get the most for your dollar when investing or buying insurance * Judge the risks of such common activities as smoking, using drugs, owning a handgun, and driving without a seat belt * Avoid faulty gambling systems and identify misleading statistics that can be used to draw you into poor investments * And much more. Inside you'll find a lively, entertaining, enlightening approach to minimizing your risks and maximizing your results -- simple strategies designed to give you the edge in life.

Packed with practical tips and techniques for solving probability problems Increase your chances of acing that probability exam -- or winning at the casino! Whether you're hitting the books for a probability or statistics course or hitting the tables at a casino, working out probabilities can be problematic. This book helps you even the odds. Using easy-to-understand explanations and examples, it demystifies probability -- and even offers savvy tips to boost your chances of gambling success! Discover how to * Conquer combinations and permutations * Understand probability models from binomial to exponential * Make good decisions using probability * Play the odds in poker, roulette, and other games

In this fully revised second edition of Understanding Probability, the reader can learn about the world of probability in an informal way. The author demystifies the law of large numbers, betting systems, random walks, the bootstrap, rare events, the central limit theorem, the Bayesian approach and more. This second edition has wider coverage, more explanations and examples and exercises, and a new chapter introducing Markov chains, making it a great choice for a first probability course. But its easy-going style makes it just as valuable if you want to learn about the subject on your own, and high school algebra is really all the mathematical background you need.

Using everyday examples to demystify probability, this classic is now in its third edition with new chapters, exercises and examples.

New edition of the popular and informal introduction to probability, now with even more examples and exercises to help understanding.