How probability can be applied in MBA

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• 
  Uma Nissi · Bharathiar University

  Probability is a measure of the likeliness that a (random) event will occur.The probability of a random event denotes the relative frequency of occurrence of an experiment's outcome, when repeating the experiment. Frequencies consider probability to be the relative frequency "in the long run" of outcomes. Application of probability in MBA field is based on the problem taken by the person only. Occur ding to case studies only we can adapt which statistical measures can be fit to the model. Like probability we can use statistical methods in time series analysis for forecasting , index numbers, correlation, regression and analysis of variance.

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  Probability is a measure of the likeliness that a (random) event will occur.The probability of a random event denotes the relative frequency of occurrence of an experiment's outcome, when repeating the experiment. Frequencies consider probability to be the relative frequency "in the long run" of outcomes. Application of probability in MBA field is based on the problem taken by the person only. Occur ding to case studies only we can adapt which statistical measures can be fit to the model. Like probability we can use statistical methods in time series analysis for forecasting , index numbers, correlation, regression and analysis of variance.

  Dec 30, 2011
• 
  Deleted

  Respected Manwinder Mam, in this relation, we can refer Moving- Average Method under Time- series Analysis of Demand Forecasting.

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  Respected Manwinder Mam, in this relation, we can refer Moving- Average Method under Time- series Analysis of Demand Forecasting.

  Oct 4, 2012