Welcome to Chapter 5 MBA 541. B ENEDICTINE U NIVERSITY Probability - Distributions A Survey of Probability Concepts Chapter 5. Chapter 5. Please, Read Pages 139 – 146 in Chapter 5 in Lind before viewing this presentation. Only part of Chapter 5 will be covered. Statistical
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Read Pages 139 – 146 in Chapter 5 in Lind before viewing this presentation.
Only part of Chapter 5 will be covered.
When you have completed this chapter, you will be able to:
A Probability is a measure of the likelihood that an event in the future will happen.
An Experiment is the observation of some activity or the act of taking some measurements
Based on available information
Based on equally likely outcomes
Based on relative frequencies