Probability
Individuals make choices every day from the moment they wake up to the minute they go to sleep. People generate probability decisions on a daily basis without them realizing it. A few people elect to take a different route to work, hoping to encounter less traffic while others are conformable taking less risk as well as traveling familiar territory. Probability is the chance or likelihood of an event occurring (Mirabella, 2011). The focus will be on the various types of possibilities such as simple, joint, additional and conditional probabilities in answering five distinct practicability questions. A simple probability is demonstrated by first creating a pivot table with correct values. A pivot table was created using the Student Data File eliminating insignificant table fields. The pivot table consisted of two genders, Male and Female categorized as Event A on the Possibility Calculations Excel Sheet. Each gender elected a major which contained the following categories: Marketing, finance, leadership, and no major; labeled as Event B on the Probabilities Calculation Excel Sheet. The total sample made up of 200 students. The Excel sheet revealed the probability of randomly choosing a female is 50%. To understand how this answer was calculated one must first ensure validation
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The additional rule explains the probability that either or both of two events occurring, as in this case gender or major. The probability of randomly choosing a Female OR Leadership major is 65%. Executing the calculation, one must first find all the women who are 100 plus 30 males are also part of the group that elected a leadership major divided by the 200 student samples; 130/300=.65 x100=65%. It is one thing to be able to plug in numbers from pivot table into an Excel worksheet, on the other hand doing the calculation with a simple calculation ensures the mastering of probable