This document is a presentation on probability by Dr. V. M. Tidake for students of the MBA program at Sanjivani College of Engineering, Kopargaon. It introduces probability as the study of the possibility of outcomes occurring in experiments and defines probability p as the number of likely outcomes divided by the total number of outcomes. Examples of real business situations where probability can be applied are discussed.

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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

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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

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NETWORK ANALYSIS
 At the End of the Session Student will be able to
understand-
A. Introduction to Probability

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Probability
Probability is the study of possibility of
occurrence of particular outcome in comparison
with the total outcomes associated with some
experiment.

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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%

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EXERCISE
 List down the real business situations where knowledge
of Probability can be applied.

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For More Details Contact
Dr. V M Tidake
tidkevishal@gmail.com
tidkevishalmba@sanjivani.org.in