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

How many pages are not advertisements, The first section of a newspaper has...

The first section of a newspaper has 16 pages. Advertisements take up (3)3/8 of the pages. How many pages are not advertisements? Subtract the number of pages of advertisements

Determine rational exponents, Evaluate following. (a) 625 3/4 Solut...

Evaluate following. (a) 625 3/4 Solution  (a) 625 3/4 Again, let's employ both forms to calculate this one.             625 3/4   =( 625 1/4 ) 3 =(5) 3   = 12

Find the Regular Grammar for the following Regular Expressio, Find the Regu...

Find the Regular Grammar for the following Regular Expression: a(a+b)*(ab*+ba*)b.

Negative signs in fractions, Q. Negative Signs in Fractions? It reall...

Q. Negative Signs in Fractions? It really doesn't matter where you put a negative sign in a fraction.  The following are all the same: The negative sign can go in

Expected value, Expected Value For taking decisions under conditions of...

Expected Value For taking decisions under conditions of uncertainty, the concept of expected value of a random variable is used. The expected value is the mean of a probability

Probability., an insurance salesman sells policies to 5 men, all of identic...

an insurance salesman sells policies to 5 men, all of identical age in good health. the probability that a man of this particular age will be alive 30 years hence is 2/3.Find the p

The paperwork to purchase your new home, You recently started the paperwork...

You recently started the paperwork to purchase your new home, and you were just notified that you can move into the house in two weeks. You decide to hire a moving company, but are

How many years will it take him to pay off the loan, Joe took out a car loa...

Joe took out a car loan for $12,000. He paid $4,800 in interest at a rate of 8% per year. How many years will it take him to pay off the loan? Using the easy interest formula I

Differential equations, Find the normalized differential equation which has...

Find the normalized differential equation which has {x, xex} as its fundamental set

Bob is 2 years from being double as old as ellen, Bob is 2 years from being...

Bob is 2 years from being double as old as Ellen. The sum of twice Bob's age and three times Ellen's age is 66. How old is Ellen? Let x = Ellen's age and let y = Bob's age. Sin

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