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You think you have a 95 percent chance of passing your next business statistics exam This is an example of which approach to probability?
Wiki User
∙ 14y ago
an optimistic one
Wiki User
∙ 14y ago
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What is the importance of probability and statistics?
The importance of probability and statistics can be found in many business aspects. For example, a loan officer at a bank is going to need to analyze statistical data to determine the feasibility of a loan on a house in a given area. Scientists use probability and statistical data when performing experiments. It is also used in astronomy to calculate where a given star will be at a given time based on past statistical data.
What is descrit data in business statistics?
in business, what is an excellent example of usiness statistical data?
The application of probability and statistic in the field of information technology?
statistics is used in the various fields. for example: banking business physical sciences natural sciences marketing research computer science economics physics and many more
How is Pi relevant to students?
Pi is relevant to statistics students as it (for example) appears in the well known normal distribution probability density function.
Is addition an example of statistics?
Yes addition is an example of statistics.
Why were statistics developed?
To be able to understand the probability of chance for an occurrence and to further understand probability
Difference between classical approach and relative approach of probability with example?
Classical approach has possible outcomes which are known with certainity ie sampling distribution is known. Relative approach is an approach in which probability values are based on historical interest.
How does sampling distribution work in statistics?
Sampling distribution in statistics works by providing the probability distribution of a statistic based on a random sample. An example of this is figuring out the probability of running out of water on a camping trip.
What is the importance of probability and statistics?
The importance of probability and statistics can be found in many business aspects. For example, a loan officer at a bank is going to need to analyze statistical data to determine the feasibility of a loan on a house in a given area. Scientists use probability and statistical data when performing experiments. It is also used in astronomy to calculate where a given star will be at a given time based on past statistical data.
What has the author Yu M Suhov written?
Yu. M. Suhov has written: 'Probability and statistics by example' -- subject(s): Mathematical statistics, Probabilities
What is descrit data in business statistics?
in business, what is an excellent example of usiness statistical data?
What is a subjective approaches?
A Subjective Approach, is when the outcomes do not have the same probability of occurrence. For example you have 90% (0.9) to pass your exam, therefore you have 10%(0.1) to fail. The probability of failing and passing is different so the above example is an example of a subjective approach. In oppose to Classical approach where all outcome have the same likeliness of happing. Example: Flipping a coin 50% for both Heads and Tails.
The application of probability and statistic in the field of information technology?
statistics is used in the various fields. for example: banking business physical sciences natural sciences marketing research computer science economics physics and many more
How is Pi relevant to students?
Pi is relevant to statistics students as it (for example) appears in the well known normal distribution probability density function.
What is a hypothetical example in statistics?
A student must choose exactly two out of three electives: art, French, and mathematics. He chooses art with probability 5/8, French with probability 5/8, and art and French together with probability 1/4. What is the probability that he chooses mathematics? What is the probability that he chooses either art or French?
Is addition an example of statistics?
Yes addition is an example of statistics.
Is there a list of abbreviations used in statistics?
wikipedia lists some of them under "Notation in probability and statistics". However, various academic disciplines have their own publication standards also. For example, if you were publishing in the field of psychology then you might be obliged to use the APA abbreviations.
