Video Reflection: Insight into the Concept of Probability
Insight into the Concept of Probability
As Leonardo Barichello (2015, 3:00) has noted, probability can be a key tool for making
random choices that avoid bias and ensure equal treatment of all involved options or parties.
Probability requires rules that guide the decision procedure and lead to satisfactory outcomes that
may not expose parties to losses, inequality, or improper treatment. Calculating the theoretical
probability supported by a particular rule before agreeing to take a specific action based on the
rule to satisfy each involved party is vital. The theoretical probability may not be clear at a