The word probability is the synonym of the word ‘chance’ which is frequently used in day to day life.

The word probability is used in a broad sense to indicate the possibility of something to happen.

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demonstrating understanding of concepts identifying relevant concepts in context and also relating findings to a context or communicating thinking using appropriate statements.

In IBPS PO, IBPS Clerk, SBI PO, SBI Clerk, SSC CGL, SSC CHSL and other competitive exams, Problems based on Probability Formulas are always asked.

These are the simplest set of problems that can be solved by using Probability Formulas.

It can be interpreted as a measure of the strength of evidence in favor of one theory among two competing theories.

That’s because the Bayes factor gives us a way to evaluate the data in favor of a null hypothesis, and to use external information to do so.

For one tourist: E(levy) = 0.2655 × 5 0.6157 × 8 0.1189 × 12 = 7.6799 E(levy2)= 0.2655 × 52 0.6157 × 82 0.1189 × 122 = 63.1639 SD(levy) = √(63.1639 – 7.67992) = 4.1830 At least two correct calculations of expected value and variance/standard deviation for individual levy or the total levies calculated The variation of the levies is taken into account when determining whether the council should build the reef, by considering the size of the standard deviation of the total levies.

Merit Excellence For all 12000 tourists: E(total levies) = 12000 × 7.6799 = 158.80 SD (total levies) = √(12000) × 4.1830 = 8.22 As the expected total is 158.80 with a low standard deviation of 8.22 it is unlikely that the required 0 000 can be reached; so the plan should not go ahead.

## Comments Probability Solved Problems

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