Which of the following is true regarding probability?
I: Probability is used by most industries.
II: By applying rules and laws one can conduct inferential process under uncertainty.
A) I only
B) II only
C) Both I and II
D) none of the above

Question

Which of the following is true regarding probability?
 I: Probability is used by most industries.
II: By applying rules and laws one can conduct inferential process under uncertainty.
A) I only
B) II only
C) Both I and II
D) none of the above

Quizplus · Accepted Answer

I is true because probability is used in various industries such as finance, insurance, gaming and even in weather forecasting. 
II is also true because when uncertainty is present, probability helps us to make inferences and predictions based on rules and laws such as the law of large numbers and the central limit theorem.

Which of the Following Is True Regarding Probability