Probability is used to develop knowledge of the fundamental mathematical tools for quantitatively assessing risk.

Name: Probability is used to develop knowledge of the fundamental mathematical tools for quantitatively assessing risk.
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Probability is a branch of mathematics that deals with calculating the likelihood of a given event's occurrence, which is fundamental in assessing and quantifying risk in various fields such as finance, insurance, and engineering.

Probability Is Used to Develop Knowledge of the Fundamental Mathematical