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www.sanjivanimba.org.in
Unit No.5.
PROBABILITY
Presented By:
Dr. V. M. Tidake
Ph. D (Financial Management), MBA(FM), MBA(HRM) BE(Chem)
Dean, EDP & Associate Professor MBA
1
Sanjivani College of Engineering, Kopargaon
Department of MBA
www.sanjivanimba.org.in
www.sanjivanimba.org.in
302-DECISION SCIENCE
Unit No.5. Probability
5.1 Introduction to
Probability
Presented By:
Dr. V. M. Tidake
Ph. D (Financial Management), MBA(FM), MBA(HRM) BE(Chem)
Dean EDP & Associate Professor MBA
2
Sanjivani College of Engineering, Kopargaon
Department of MBA
www.sanjivanimba.org.in
www.sanjivanimba.org.in
NETWORK ANALYSIS
 At the End of the Session Student will be able to
understand-
A. Introduction to Probability
www.sanjivanimba.org.in
Probability
Probability is the study of possibility of
occurrence of particular outcome in comparison
with the total outcomes associated with some
experiment.
www.sanjivanimba.org.in
Probability
• Probability p of happening an event is given as-
• P(A) or p = m/n
where,
m - No of Likely Outcomes &
n - Total No of Outcomes.
Note: Probability value ranges between 0 to 1 or 0% to
100%
www.sanjivanimba.org.in
EXERCISE
 List down the real business situations where knowledge
of Probability can be applied.
www.sanjivanimba.org.in
For More Details Contact
Dr. V M Tidake
tidkevishal@gmail.com
tidkevishalmba@sanjivani.org.in

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5.1 introduction to probability