BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
number of successes divided by the standard deviation of the distribution
|
|
|
chance that an event will not happen
|
|
|
number of successes divided by the number of failures
|
|
|
numerical measure of the likelihood that an event will occur
|
Detailed explanation-1: -In everyday terminology, probability can be thought of as a numerical measure of the likelihood that a particular event will occur. Probability values are assigned on a scale from 0 to 1, with values near 0 indicating that an event is unlikely to occur and those near 1 indicating that an event is likely to take place.
Detailed explanation-2: -Definition: The probability [chance] of event A is the proportion [percentage] of the time A is expected to happen when the random process is repeated over and over again. Opposite Event Rule: The probability that event A happens is equal to one minus the probability that A doesn’t happen.
Detailed explanation-3: -Probability is a measure of the likelihood of a random phenomenon or chance behavior. Probability describes the longterm proportion with which a certain outcome will occur in situations with shortterm uncertainty.