Probability MBA 1st Year Semester Very Short Question Answers Study Notes Study Material Unit Wise Chapter Wise Syllabus Division Of The Content Theory Of Probability, Addition And Multiplication Law, Bays Theorem. Probability theoretical Distributions: Concept \And Application Of Binomial, Poisson And Normal Distributions.
Q.4. Define mutually exclusive events and exhaustive events.
Ans. Mutually Exclusive Events: A set of events is said to be matually if the occurrence of any other that is at most one of the events can occurs.
Exhaustive Events: A set of events is said to be mutually exclusive if the occurrence events can occurs.
Q.5. What is meant by actual frequency distribution?
Ans. Actual frequency distribution is also know as ‘observed frequency distribution’. It is constructed on the basis of data available or observed in statistical experiments.
Q.6. Define the term theoretical frequency distribution.
Ans. Theoretical frequency distribution is also called as ‘expected or probability or model frequencies distribution as a distribution of frequencies which is not based on actual experiments or observations but is constructed through expected frequencies obtained by mathematical computation based on certain hypothesis.
Q.7. Write the four types of discrete theoretical distribution.
Ans. The four types of descrete theoretical distribution are as follows:
1. Binomial distribution,
2. Poisson distribution,
3. Negative binomial distribution,
4. Geometric distribution.
Q.8. Write the four types of continuous probability distribution.
Ans. The four types of continuous probability distribution are:
1. Normal distribution,
2. Student’s t-distribution,
3. Chi-square distribution,
Q.9. Write the definition of binomial distribution.
Ans. Binomial distribution is a discrete frequency distribution, which is based on dichotomous alternatives, le. on the basis of probability of data of success (desired event) and failure. This distribution, in the form of probability density function, can be expressed as follows:
P(x) = “Cxqn-* pt
Q.10. Discuss the four assumptions of binomial distribution.
Ans. The four assumptions of binomial distribution are:
1. Finite number of trials,
2. Mutually exclusive outcomes,
3. Same probability in each trial,
4. All trials independent.
Q.11. Write the three general rules of binomial expansion methods.
Ans. The three general rules of binomial expansion methods are:
1. Number of terms,
2. Sequence of exponents,
3. Sum of exponents.