Paper No and Title 2: Applied Business Statistics. Module No and Title 3: Random Variable and Probability Distribution

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Subject BUSINESS ECONOMIS


Paper No and Title 2, Applied Business Statistics

Module No and Title 1,Basic Probability Theory

Module Tag BSE_P2_M1




BUSINESS PAPER No. 2 : APPLIED BUSINESS STATISTICS
ECONOMICS MODULE No. 1: BASIC PROBABILITY THEORY

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TABLE OF CONTENTS
1. Learning Outcomes
2. Introduction
3. Basic Theory of Probability.

3.1. Meaning of Probability.

3.2. Basic Concepts.

3.3. Methods of Assigning Probability.

3.3.1.The Classical Approach.
3.3.2 Relative Frequency Approach.

3.3.3 The Subjective Approach




1. Learning Outcomes
The ultimate objective is to help us to understand the basic concepts of probability & calculation
of probabilities in business thereby enabling you to reduce uncertainties in business & managerial
decisions. After studying this module you should be able to:
 Understand the basic concepts of probability.

BUSINESS PAPER No. 2 : APPLIED BUSINESS STATISTICS
ECONOMICS MODULE No. 1: BASIC PROBABILITY THEORY