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[Amelia Carter]

Amelia Carter

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Real-World Applications of Probability Theory
Probability theory has significant applications in various fields, including:

Statistics: Used to analyze data and make informed decisions.
Finance: Risk assessment and portfolio management rely on probabilistic models.
Engineering: Used in reliability analysis and system design.
Medicine: Epidemiology and clinical trials use probability theory to study disease spread and treatment efficacy.
Conclusion
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