Probability and coincidence
What are the differences between probability and coincidence? Can the probability be more than 1 or less than 0? Explain why or why not.
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Explain why it is important to find out the shape of data distribution before computing the descriptive statistics? Do all variables follow normal distribution? Describe why or why not. Describe with examples?
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Describe the role of probability concepts in business decision-making? Give specific examples.
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Write down the differences between the probability and coincidence? Can the probability be more than 1 or less than 0? Describe why or why not.
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What are the features of standard normal distribution? The HR department of an organization collects data on employees' age, salary, level of education, gender, and ethnicity. Which data do you think is more probable to follow normal distribution?
Is it ever possible for United States to increase production of civilian goods without reducing production of government goods? Why did you answer this way? What conditions are you assuming? Describe.
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