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Most people are not statistically trained so the probability of whether or not you are forecasting is so close to 0 that knowing its value is of little help.
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∙ 9y ago
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Is the classical probability useful now?
Yes.
How do you create a problem that uses probability?
To decide whether or not to take an umbrella as you go out, you need to know the probability that it will rain.To decide whether or not to take an umbrella as you go out, you need to know the probability that it will rain.To decide whether or not to take an umbrella as you go out, you need to know the probability that it will rain.To decide whether or not to take an umbrella as you go out, you need to know the probability that it will rain.
What is the probability that all four cards are seven?
The answer depends on whether the question is in the context of a deck of playing cards or some other collection, whether or not the cards are replaced after picking, whether the cards are selected at random. Since there is no information on any of these aspects, it is not possible to give a useful answer to the question.
When is it useful to use probability?
When there is uncertainty about the outcome of a trial or experiment.
What is the probability a set of outcomes?
The probability depends on the nature of the outcomes in the set: whether or not they are mutually exclusive, independent.
What is the probability of 25 hits out of 82?
The answer depends on:the probability of each hit,whether or not the probability of a hit remains constant,whether or not the hits are independent.Since you have not bothered to share any information on these matters, I cannot provide a more useful answer.
How useful probability in statistics?
Statistics is based on the theoretical foundation of probability.
Is the classical probability useful now?
Yes.
How do you create a problem that uses probability?
To decide whether or not to take an umbrella as you go out, you need to know the probability that it will rain.To decide whether or not to take an umbrella as you go out, you need to know the probability that it will rain.To decide whether or not to take an umbrella as you go out, you need to know the probability that it will rain.To decide whether or not to take an umbrella as you go out, you need to know the probability that it will rain.
What is the probability that all four cards are seven?
The answer depends on whether the question is in the context of a deck of playing cards or some other collection, whether or not the cards are replaced after picking, whether the cards are selected at random. Since there is no information on any of these aspects, it is not possible to give a useful answer to the question.
When is it useful to use probability?
When there is uncertainty about the outcome of a trial or experiment.
What is the important of forecasting?
Forecasting is important because it helps managers prepare for changes in their industry. With the right forecasting, companies can have the products their consumers want with out any shortages or overages.
What is the probability a set of outcomes?
The probability depends on the nature of the outcomes in the set: whether or not they are mutually exclusive, independent.
What is the probability of a compound event?
It depends on whether or not the events are independent.
What is the effect of poor forecasting on any organisation?
Poor forecasting introduces variables to the future of an organization. Whether it is money in business, or any other forecast, knowing more about the future will help plan the present.
Why satellite are useful to us?
The moon for the tides. The man-made ones for communications, weather forecasting, GPS, and spying on each other.
Use of probability in logarithmic relations?
None. If you have an exact relationship - whether it is linear, polynomial, logarithmic or whatever - probability has no role to play.
