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An accurate knowledge of the probability of some event to occur allows the concepts of planning, preparing and expecting to take on meaning. If you had absolutely no idea what was going to happen from one moment to the next, it would be completely illogical for you to do any of those above things. Not to mention that the entire idea of "surprise" would be moot since everything would be a surprise.
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What is the meaning and importance of valuation concept?
Valuation Concept is Valuation concept no concept about it.
What does probability look like?
Probability is an abstract concept and so does not have any particular appearance.
Is relative frequency similar to the concept of probability?
The relative frequency of of an event is one possible measure of its probability.
What is the fundamental concept for probability and statistics?
The fundamental concept is that there are many processes in the world that contain a random element. If that were not the case, everything would be deterministic and there would be no need for probability of statistics.
What are the types of probability?
They are generally agreed to be theoretical and experimental probabilities. Probability is probability. The concept may be applied to any causal event which has more than one potential outcome.
What is the concept of communication and its importance to productivity?
How importance is the concept of communication to cooperate productivity
Random sample is a concept of?
Probability.
What is the meaning and importance of valuation concept?
Valuation Concept is Valuation concept no concept about it.
What is the best definition for probability in geometry?
Since probability is not a geometric concept, there is no definition for it in geometry.
What does probability look like?
Probability is an abstract concept and so does not have any particular appearance.
Discuss the Concept of customer value and its importance to successful marketing?
discuss the concept of customer value and its importance to markeking
Is relative frequency similar to the concept of probability?
The relative frequency of of an event is one possible measure of its probability.
What is the fundamental concept for probability and statistics?
The fundamental concept is that there are many processes in the world that contain a random element. If that were not the case, everything would be deterministic and there would be no need for probability of statistics.
What do you understand by concept of probability?
Probability concerns with estimating a likelyhood for an event to either yet to happen or would have happened.
Explain the importance of the Prudence concept?
nbkjb
Concept of opportunity cost and its importance?
Nice
What is the importance of the entity concept in accounting?
The importance of the entity concept in accounting is that you are able to determine the financial status of a business. The entity concept demands that the business and the owners should be treated as separate entities.
