Probability distribution , Operation Research

Assignment Help:

PROBABILITY DISTRIBUTION

Ordinarily speaking  the probability  of an event  denotes the  likelihood  of its happening. The  value of  probability ranges between  0  an 1. If an  event is certain  to happen it probability  would  be i and if it is  p certain that the  event would not  take place then the  probability of its happening is 0. Ordinarily in social  science the  probability of the happening of an event is rarely  1 or 0. The reason is that  in social   sciences  we deal with situation where  there is always as element of uncertainty about  the happening  or not  happening of  an event. For this  reason  the probability  of the  events  is somewhere  between  0 and 1.

The general  rule of the happening  of an event is  that if an event  can happen  in  ways  and fail to  happen in n ways  them the probability  of the  happening of the vent is  given by.

  P = m / m+ n or

P= Number of cases favourable to  the occurrence of the event / total number  of mutually  exclusive  and exhaustive cases

Odds  in favour of the  occurrence of the event

= m/n= Number of cases favourable to  the occurrence of the event/ the number  of cases  against  the occurrence  of the event

Odds against  the occurrence  of the event

m/n=  The  number  of cases  against  the occurrence of the event/ the number of cases  favourable to  the occurrence of the even.


Related Discussions:- Probability distribution

Probability distribution , Normal 0 false false false E...

Normal 0 false false false EN-IN X-NONE X-NONE PROBABILITY DISTRIBUTION

Regression Analysis, regression line drawn as Y=C+1075x, when x was 2, and ...

regression line drawn as Y=C+1075x, when x was 2, and y was 239, given that y intercept was 11. calculate the residual

Usefulness of correlation - correlation regression analysis, Usefulness of ...

Usefulness of Correlation 1.Correlation  is very  useful  to economists  to study  the relationship  between  variables  like  price  and quantity  demanded. To businessmen it

Chart the historical prices based on the monthly data, Choose a publicly tr...

Choose a publicly traded company (NYSE, AMX, or OTC) that interests you. If you don't know how to choose a company, think of IBM, DELL computer, Nike, Apple computer, GM, Ford, Nok

Characteristics, what are the characteristics of operation research

what are the characteristics of operation research

OPTIMAL ASSIGNMENT., Six Operators are to be assigned to five jobs with the...

Six Operators are to be assigned to five jobs with the cost of assignment in Rs. given in the matrix below. Determine the optimal assignment. Which operator will have no assignment

Queuing theory, A certain type of machine breaks down at an average rate of...

A certain type of machine breaks down at an average rate of 5/hour. the break down is in accordance with Poisson process.cost of idle machine hour is $15/hour. 2 repairmen Peter an

Network models, These models are applied to the management ( planning con...

These models are applied to the management ( planning controlling and scheduling ) of large scale projects. PERT/ CPM techniques help in identifying potential trouble spots in

Quantitative Technique for business, Davidson construction company is build...

Davidson construction company is building a luxury lakefront home in batangas coordination of the architech an sub contractors will require a major effort to meet the 44-week (appr

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