Explain why event probabilities range from 0 to 1
What will be an ideal response?
The number 0 represents no chance of occurrence, while 1 represents a 100 percent chance of occurrence. Any number between 0 and 1 represents that particular event's chance of occurrence. Any negative number or number exceeding 1 has no meaning for an event probability.
Business
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One of the Corporate Social Responsibility (CSR) initiatives by IKEA's primary carpet supplier in India is to provide good working conditions for children working in the India's carpet industry
Indicate whether the statement is true or false
Business
The weight of a loaf of bread is normally distributed with a mean of 22 oz and a standard deviation of 0.5 oz. What is the probability that a loaf is more than 24 oz?
What will be an ideal response?
Business