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• Scenario 4: If the person is above 60 years of age then the premium charged is of the highest bracket.

                 Premium very low  Age below 25                      Age 40-60               Premium very high



                                                    Age 25-40                        Age above 60





                         a  Brainy Fact


                    GPT-3 (Generative Pre-trained Transformer 3) is a large language model, released by OpenAI in
                    2020, has 175 billion parameters and uses probabilistic sampling techniques for text generation.





              Case 2
              Let there be a bet among friends that a person will have to perform a dare if the die rolls out 5 or 6 and otherwise
              the person has to speak the truth.
                 • Scenario 1: When die rolls into any number between 1-4. The person replies to a question with the
                truth.



                             1            2              3             4            5             6



                                                Truth                                      Dare

                 • Scenario 2: When the die rolls out 5 or 6 then a person performs a dare.

                           1            2              3             4            5             6




                                              Truth                                      Dare



                       Applications of Probability


              Probability has a wide range of applications across various fields, making it an essential concept in many areas
              of study and professional practice. Here are some key applications of probability.


              Sports
                 • In cricket, the batting average represents how many runs
                a  batsman  would  score  before  getting  out.  Probability
                can help in estimating the batting average. For instance, if
                a  batsman  had  scored  20  runs  out  of  80  runs  from  only
                boundaries in the last match. Then, there is a chance that he
                will score 25% of his runs in the next match from boundaries.



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