Find a real-world example of how statistical simulations are used to calculate probabilities of event outcomes....

Find a real-world example of how statistical simulations are used to calculate probabilities of event outcomes. Describe the real-world example and how statistical simulations are used. Try to incorporate as many topics as you can in explaining how the simulations are used in the context of your example for calculating probabilities of event outcomes. If you have a link to a website about it, story on it, or video illustrating it, share it with us.

Expert Solution

https://www.ck12.org/book/ck-12-middle-school-math-concepts-grade-8/section/11.15/

Click above link First You must read this..

And also share images you read..

Actually simulation mean we generate huge data, if we don’t have maz data and not possible to collect huge data then we issuing simulation techniques we can generate data..

For example now corona virus in chiana

We don’t have proper data means max data for doing analys on carona virus effected factor. In this case it’s necessary to do study but . We don’t have proper data so it may be our analysis comes wrong . So we generate data depending sample who’s were we have..and will do study... hope you are understanding why this important..

orchestra answered 1 year ago

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