Statistics & Probability Investigate chance processes and develop, use, and evaluate probability models.7Develop a probability model and use it to find probabilities of events. Compare probabilities from a model to observed frequencies; if the agreement is not good, explain possible sources of the discrepancy.bDevelop a probability model (which may not be uniform) by observing frequencies in data generated from a chance process. For example, find the approximate probability that a spinning penny will land heads up or that a tossed paper cup will land open-end down. Do the outcomes for the spinning penny appear to be equally likely based on the observed frequencies?