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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 bricklayer estimates that he requires 6.5 bricks per square foot. He needs to lay a patio that will be 110 square feet. How many bricks will he required? Multiply 6.5 by 110;
Total Contribution per Year for next 10yeras =$1000+$800 =$1800 So Total Future fund Vaule =$1800*(1+1.073+power(1.073,2)+ power(1.073,2)+ power(1.073,3)+ power(1.073,4)+ power
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Wendy brought $16 to the mall. She spent $6 on lunch. What percent of her money did she spend on lunch? Divide $6 by $16 to ?nd out the percent; $6 ÷ $16 = 0.375; 0.375 is equi
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