PLEASE HELP!! Have you ever wondered about the likelihood of an event occurring? Whether it’s the odds of your favorite football team winning on Sunday or how much you pay for car insurance, probability concepts can play a role in making those determinations. Respond to the following questions in a minimum of 175 words:

· Referring to questions below give an example of a situation where your understanding of probability might help you make a decision. Use the terms/concepts from week 5 reading.

1. What sorts of information would you collect, using your critical thinking?

2. What sorts of information would you collect keeping in mind the definition of probability?

3. How might you use what you have learned about probability to determine a course of action?

4. What are the possible benefits and limitations of this approach?