Please cite an example where the use of probability theory might have benefited a business or have been improperly used. 200 word limit. Thanks!

Please cite an example where the use of probability theory might have benefited a business or have been improperly used. 200 word limit. Thanks!

Natalia, point well taken about the base rate when considering numeric probability. So how would a passenger interpret the probability of encountering turbulence? Would it be knowledge that the...