Developers use the Permutation and combination method to solve problems. There are two types of problems that can be solved by permutations and combinations. The first type is finding the number of ways a set of items can be arranged in order, for example, the number 3 ways one could shop at Walmart. This is commonly referred to as counting. The second type is solving for probability after an event has already happened involving items 1 through N, where N equals 32 or less (i.e., there are no more than 32 items). This type involves calculating the probability that item number 1 will take one side over another during a game of Rock-paper-scissors, for example. This can be solved by exploring the permutations and combinations of items 1 through 32. There are N=32 possible outcomes for this problem, and each outcome will be 1/N possibilities (i.e., one of the N items will always get chosen). Permutation and combination problems are used in many business applications such as insurance, stock analysis, accounting and gambling.The Master's Degree in Probability Management is a 2 year Master's Program at the University of Oklahoma. The Program is designed to teach students the theoretical foundations plus practical application of probability theory and statistics appropriate to data mining, business decision-making and information management. There are a total of 32 modules included in the curriculum, each module is to be completed by the student within one semester. The theoretical foundations taught in this program include:Also included in the curriculum are several practical applications which utilize probability theory and statistics. These include:The Probability Master’s Degree can be completed in two years. The first year consists of all 32 modules, including foundational courses, professional courses and data analysis courses. The core course work generally takes 2 semesters to complete (16 weeks), with an additional 3 semesters allotted for the elective coursework (total 19 semesters). Each core course meets twice per week for 2 hours per session. A typical class has approximately 40 students. The curriculum is designed to teach students to think analytically and quantitatively, to communicate clearly and logically, and to synthesize information into useful knowledge for solving specific problems. The Master of Science in Probability or Statistic Management is offered for those who know they want to pursue a professional career in the field of mathematical statistics. It takes an average of 3 years of full-time study (6 courses per year) to complete the program, which can be done entirely on campus. The curriculum include both applied and theoretical courses. The Master's Degree gives students a solid foundation in probability and statistics, which prepares them for further studies in graduate school, the research field, or to seek employment. The Integrated Mathematics Department at Temple University offers a Bachelor of Science Degree in Mathematics with an Integrated Major in Statistics that includes courses that also fulfill departmental requirements for the Master of Science in Statistics. The program requires 93 credit hours (not including the pre-requisite courses). It takes an average of three years to complete the degree (6 courses per year). The degree can be completed entirely on-campus.Ranking for this program has varied over time, but is currently unranked by US News & World Report.

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