MNGT 368 NEIU Bayes Theorem & Business Statistics Problems
Question Description
Learning Objective(s):
- Define probability, experiment and sample space
- Apply rules of probability, addition and multiplication rules, to probability problems and Bayes’ theorem.
- Calculate and Interpret the expected value of a discrete and continuous random variable.
- Compute probabilities for the Binomial, Poisson, Hypergeometric, Normal, Uniform, and Exponential distributions and apply these distributions to decision-making situations
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