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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.
Inflation Inflation is a general increase in the price of goods and services. The inflation rate, as measured by the
Making Decision Lastly a decision should be arrived as to whether the null hypothesis is to be accepted or rejected. In this regard the value of the test statistic
#A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y paper
USE SIMPLE METHOD TO SOLVE THE FOLLOWING LPP MAXIMISE Z=4X1+10X2 SUBJECT TO CONSTRAINS, 2X1+X2 2X1+5X2 2X1+3X2 X1, X2>0
Operations Research uses the methods of science to understand and explain the phenomena of operating systems. It devises the theories( models ) to explain these phenomena
How do I set this problem up for Excel: A National Credit Union has $250,000 available to invest in a 12 month commitment. The money can be placed in Treasury notes yielding an 8%
formulate the linear programming model of the table above
Solve the following Linear Programming Problem using Simple method. Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 = 4 X1 - X2 = 2 X1, X2 = 0
A PAPER MILL PRODUCES TWO GRADES OF PAPER VIZ., X AND Y. BECAUSE OF RAW MATERIAL RESTRICTIONS, IT CANNOT PRODUCE MORE THAN 400 TONS OF GRADE X PAPER AND 300 TONS OF GRADE Y PAPER I
Exercise Define the terms used in LPP. Mention the advantages of LPP. What are the assumptions and limitations of LPP? A firm produces three pro
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