Discuss some uses of bayes theorem

Assignment Help Business Management

Reference no: EM133491268

Assignment:

Note: Please answer each and every question in a detailed way and arrange in a detailed format.

Part- 1

1. Describe how to calculate the mean, median and mode.

2. Define the range, variance and standard deviation.

3. What is the purpose of taking a random sample?

4. Discuss some uses of Bayes' theorem.

5. Give some applications of the binomial distribution.

6. What are the characteristics of a Poisson distribution?

7. Give some examples of the normal distribution.

8. Discuss how the exponential distribution can be applied.

Part- 2

1. What is the relationship between planning and forecasting? How can statistical forecasting provide support in risk management?

2. Explore the uses of regression analysis as a tool for risk and business continuity management.

3. Discuss how improper maintenance policies lead to business continuity problems.

4. Discuss how reliability models are used to provide information to support decisions regarding systems availability.

Reference no: EM133491268

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