The company has no good idea what the price of copper will be in 20 years, nor is it certain what is the probability of different possible prices.

FORBES: Uncertainty and Risk Management: What to Do About Black Swans?

That the iPhone 5 might get one third of the iPhone market, or one third of the smart-phone marketplace, or possibly even one third of all phone sales: all seem possible with lowering levels of probability.

FORBES: iPhone 5: One Third of Consumers Say They Will Buy One

When loan officers present loans as clean and bright and shiny as possible, there is a higher probability of approval.

FORBES: Anatomy of a Purchase Mortgage - Chapter Three

Infants as young as 6 months are capable of making predictions based on probability, a higher level of reasoning than is commonly believed possible, researchers have found.

WSJ: Wise Beyond Their Years: What Babies Really Know

Risk management involves achieving your predefined financial objectives at the lowest possible risk or, said another way, is a means to increase the probability of achieving your predetermined financial goals.

FORBES: How Much Are You Worth?

Even as Germany wrestles with the Euro woes, and Eurogeddon, the probability of widespread social unrest in Europe in reaction to austerity, the possible collapse of its currency (or alternatively the possibility of compromise), close neighbours Switzerland are becoming more optimistic about their own economic future.

FORBES: As Eurogeddon Approaches, Swiss Become Even More Optimistic

The pricing of the probability of an outright World Cup win is more conservative than on exchanges where there are other possible prizes and dividends.

ECONOMIST: Buttonwood