Probability Distribution Probability Distribution : In Statistics, the probability distribution gives the possibility of each outcome of a random experiment or event. It provides the probabilities of different possible occurrences. To recall, the probability is a measure of uncertainty of various phenomena. Like, if you throw a dice, the possible outcomes of it, is defined by the … Read more
Subjective Probability The probability of something happening based on an individual’s own experience or personal judgment What is Subjective Probability? Subjective probability refers to the probability of something happening based on an individual’s own experience or personal judgment. A subjective probability is not based on market data or historical information and differs from person to … Read more
The Advantages of Regression Analysis & Forecasting The Advantages of Regression Analysis : Regression analysis refers to a method of mathematically sorting out which variables may have an impact. The importance of regression analysis for a small business is that it helps determine which factors matter most, which it can ignore, and how those factors interact … Read more
