ONLINE CLASS TEST-CRITICAL THINKING
1. Differentiate between probability and possibility ? Probabilistic thinking is essentially trying to estimate, using some tools of math and logic, the likelihood of any specific outcome coming to pass. ... In a world where each moment is determined by an infinitely complex set of factors, probabilistic thinking helps us identify the most likely outcomes. Probability theory is often considered to be a mathematical subject, with a well-developed and involved literature concerning the probabilistic behavior of various systems (see Feller, 1968), but it is also a philosophical subject – where the focus is the exact meaning of the concept of probability and the ways in which it relates to the fundamental aspects of our reasoning. The word probability means occurrence in random. This is mostly used in statistics to find the probability of something that occurs in random. The word possibility means predicting if something can happen or not. That is the most common differe...