Probability, Mathematics

Assignment Help:

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


Related Discussions:- Probability

Find the volume of water left in the cylindrical tub, A solid is in the for...

A solid is in the form of a right circular cone mounted on a hemisphere. The radius of the hemisphere is 3.5 cm and the height of the cone is 4 cm. The solid is placed in a cylindr

Applications of derivatives rate change, Application of rate change Bri...

Application of rate change Brief set of examples concentrating on the rate of change application of derivatives is given in this section.  Example    Find out all the point

Surface area with parametric equations, Surface Area with Parametric Equati...

Surface Area with Parametric Equations In this final section of looking at calculus applications with parametric equations we will take a look at determining the surface area o

Area and Perimeters, The top of the new rectangular Big Gig Thingamajig is ...

The top of the new rectangular Big Gig Thingamajig is 80 inches long and 62 inches wide. What is the top''s perimeter?

What is the new price of the coat, An $80.00 coat is marked down 20%. It do...

An $80.00 coat is marked down 20%. It does not sell, so the shop owner marks it down an additional 15%. What is the new price of the coat? Find out 20 percent of the original p

Difference between experiment and outcome, Difference Between Experiment an...

Difference Between Experiment and Outcome Experiment is an operation that produces outcomes which can be observed. Outcome/Event is the result of an experiment.

Calculus, how much it cost an hour

how much it cost an hour

Tangent, A tangent to a curve at a point is a straight line which tou...

A tangent to a curve at a point is a straight line which touches but does not intersect the curve at that point. A slope of the curve at a point is defined as the

Determine the area of the regular octagon, Determine the area of the regula...

Determine the area of the regular octagon with the following measurements. a. 224 square units b. 112 square units c. 84 square units d. 169 square units b. See

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd