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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
A firm is manufacturing 45,000 units of nuts. The probability of having a defective nut is 0.15 Compute the given i. The expected no. of defective nuts ii. The standard an
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Example1 : Solve the subsequent system of equations. -2x 1 + x 2 - x 3 = 4 x 1 + 2x 2 + 3x 3 = 13 3x 1 + x 3 = -1 Solution The initial step is to write d
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