An understanding of the notion and application of probability is essential in businesses such as insurance as well as in medical areas such as epidemiology. On the personal level such knowledge enables us to understand the risks we take at the casino, the TAB, the stock market or with a medical operation. Statistical investigations provide links between other areas of the mathematical strands and applications of them. At the primary level, it relies heavily on number, pattern and graphing as well as on precise, logical thinking and communication. Above the primary level, algebra becomes increasingly important.
Probability draws together various aspects of number, such as fractions, decimals and percentages.
It also involves systematic counting to enable particular probabilities to be determined. But statistical investigations in its various forms, allows mathematics to interact with other subject areas. This is especially the case in Social Studies where statistics is an important tool to produce and represent data.