Probability

-Probability is an extremely popular concept in business management. Since it covers the risks such may be included in certain business situations. This is a fact that when a business investment is being arranged, the outcome is generally uncertain. Hence the concept of probability may be utilized to describe the degree of uncertainty of a particular business outcome

Therefore Probability may be defined as the chances of a described event happening. Numerically, probability values range between 1 and 0. A probability of 0 shows the event cannot occur at all. A probability of 1 show the event will certainly happen.

Hence other events have their probabilities along with values lying between 1 and 0

-The formular utilized to determine probability is as given below:

Probability (x) =  r/n = favourable out comes/total out comes

Posted Date: 2/16/2013 8:15:02 AM | Location : United States

Ask an Expert

Related Discussions:- Probability, Assignment Help, Ask Question on Probability, Get Answer, Expert's Help, Probability Discussions

Write discussion on Probability
Your posts are moderated

Write your message here..

Related Questions

Derivatives of hyperbolic functions , Derivatives of Hyperbolic Functions ... Derivatives of Hyperbolic Functions : The last set of functions which we're going to be looking at is the hyperbolic functions.  In several physical situations combinations of e

Fibonacci number, 1. Suppose n ≡ 7 (mod 8). Show that n ≠ x 2 + y 2 + z 2... 1. Suppose n ≡ 7 (mod 8). Show that n ≠ x 2 + y 2 + z 2 for any x, y, z ε Z. 2. Prove ∀n ε Z, that n is divisible by 9 if and only if the sum of its digits is divisible by 9.

Parenteral calculations, 850ml is to be administered to a person over 8 hou... 850ml is to be administered to a person over 8 hours using a drop factor of 20 drops/ml what is the flow rate in gtts/min ?

Properties of cross product - vector, Properties of Cross product If u,... Properties of Cross product If u, v and w are vectors and c is a number then u → * v → = -v → * w →                                                       (cu → ) * v → =

COS Sheets, How do I find percentages with doing COS Sheets How do I find percentages with doing COS Sheets

Rotational symmetry .., write down the order of rotational symmetry of the ... write down the order of rotational symmetry of the rectangle

Three times the larger of the two numbers, If three times the larger of the... If three times the larger of the two numbers is divided by the smaller, then the quotient is 4 and remainder is 5. If 6 times the smaller is divided by the larger, the quotient is

Monomial, express the area of a square with sides of length 5ab as monomial... express the area of a square with sides of length 5ab as monomial

Derivation of moment of inertia of cone revolved at x-axis, 1 1

Find the area of the shaded region, ABC is a right angled triangle in which... ABC is a right angled triangle in which ∠A = 900. Find the area of the shaded region if AB = 6 cm, BC=10cm & I is the centre of the Incircle of ?ABC. Ans: ∠A =90 0 BC