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ModelRisk is a very powerfull tool to calculate probabilty (Excell add-in).
You have a lot of distributions (more than every other software on the market), a special Probabilty Calculation menu, time series, aggregate, distribution fit and so much more.
I really love it to calculate my statistical problems. I have bought a copy of ModelRisk and didn't regret it + good customer service.
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Where is probability used in the real world?
Probability is used everywhere: Betting odds. Medical odds, (chance of survival or chance of side effect happening). Anywhere we calculate risks (insurances calculate premiums based on probability). Communication Networks
How useful probability in statistics?
Statistics is based on the theoretical foundation of probability.
How do you calculate outage probability for rician fading?
outage probability
Two dice are rolled what is the probability of rolling at least one six?
First calculate the probability of not rolling a six - since there are 5 possibilities for each die, this is (5/6) x (5/6). Then calculate the complement (1 minus the probability calculated).First calculate the probability of not rolling a six - since there are 5 possibilities for each die, this is (5/6) x (5/6). Then calculate the complement (1 minus the probability calculated).First calculate the probability of not rolling a six - since there are 5 possibilities for each die, this is (5/6) x (5/6). Then calculate the complement (1 minus the probability calculated).First calculate the probability of not rolling a six - since there are 5 possibilities for each die, this is (5/6) x (5/6). Then calculate the complement (1 minus the probability calculated).
How do you calculate the probability of observing a sample proportion of .32 or more?
You need a null hypothesis first. You then calculate the probability of the observation under the conditions specified by the null hypothesis.
Where is probability used in the real world?
Probability is used everywhere: Betting odds. Medical odds, (chance of survival or chance of side effect happening). Anywhere we calculate risks (insurances calculate premiums based on probability). Communication Networks
How useful probability in statistics?
Statistics is based on the theoretical foundation of probability.
What can be done with the principle of probability?
You can calculate the probability of the outcome of events.
How do you calculate outage probability for rician fading?
outage probability
How do you do probability of independent events?
The answer depends on what you mean by "do". Does it mean calculate individually, calculate the probability of either one or the other (or both), calculate the probability of both, calculate some function of both (for example the sum of two dice being rolled)?
How to calculate empirical probability?
Bayesian probability ; see related link .
Is the classical probability useful now?
Yes.
Two dice are rolled what is the probability of rolling at least one six?
First calculate the probability of not rolling a six - since there are 5 possibilities for each die, this is (5/6) x (5/6). Then calculate the complement (1 minus the probability calculated).First calculate the probability of not rolling a six - since there are 5 possibilities for each die, this is (5/6) x (5/6). Then calculate the complement (1 minus the probability calculated).First calculate the probability of not rolling a six - since there are 5 possibilities for each die, this is (5/6) x (5/6). Then calculate the complement (1 minus the probability calculated).First calculate the probability of not rolling a six - since there are 5 possibilities for each die, this is (5/6) x (5/6). Then calculate the complement (1 minus the probability calculated).
How do we define Lotus Software?
Lotus Software is a useful software
What role does job costing software play in the construction business?
Job costing software is used a lot in the construction business. It is used to calculate costs of a particular construction job. Job costing software is very important and useful for accounting in a construction business.
When is it useful to use probability?
When there is uncertainty about the outcome of a trial or experiment.
How do you predict probability?
"Probability" is not something that occurs in the future. It's the numerical likelihood of something happening in the future. You don't predict the probability. You calculate it.
