Definition--Statistics and Probability Concepts--Probability Model
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Algebra >> Probability and Data Analysis >> Probability

Definition--Statistics and Probability Concepts--Probability Model

Probability Model

Probability Model

Topic

Statistics and Probability

Definition

A probability model is a mathematical representation of a random phenomenon.

Description

Probability models are essential in understanding how to quantify uncertainty in various scenarios. They can be as simple as a coin toss or as complex as predicting stock market trends. These models usually incorporate the outcomes of an event and their associated probabilities.

In practice, probability models are applied in fields such as economics for modeling risk, and in engineering for system reliability analysis. They help in decision-making processes and risk assessments by providing a structured way to predict probabilities of different scenarios occurring.

Students should learn about probability models to develop their analytical skills and apply these concepts to real-world problems, enriching their understanding of uncertainty and risk.

Probability Model
Scientists use probability models to predict the 
colors of flowers based on genetic traits.

For a complete collection of terms related to Probability and Statistics click on this link: Probability and Statistics Collection.

Common Core Standards CCSS.MATH.CONTENT.6.SP.B.4, CCSS.MATH.CONTENT.6.SP.A.2, CCSS.MATH.CONTENT.HSS.ID.A.1, CCSS.MATH.CONTENT.HSS.ID.A.2, CCSS.MATH.CONTENT.HSS.ID.A.3, CCSS.MATH.CONTENT.HSS.ID.A.4
Grade Range 6 - 12
Curriculum Nodes Algebra
    • Probability and Data Analysis
        • Probability
Copyright Year 2020
Keywords probability