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Quantitative Techniques
Quantitative Techniques
Yashasvini
Tharani
Rashmi
Devi priya
vandana
INTRODUCTION
MEANING
Possibility
It is a branch of mathematics
It deals with the occurrence of a random
event
The value is expressed from zero to one
It has been introduced in math to predict
how likely events are happen
Probabilities are written in decimals,
fraction or percentage.
EXPERIMENT
An operation which can produce some well defined outcomes is
known as an experiment. There are two type of experiments
Deterministic experiment
Random experiment
Sample space
The set of all possible outcome of a random experiment is called as sample space
and is generally denoted by S.
EXAMPLES :
In tossing of a fair coin , there are two possible outcomes head(H)and tail(T)
S ={ H , T }
When two fair coin are tossed together , the possible outcomes of the
experiment are HH, HT,TH, TT S = { HH, HT, TH, TT}
When 3 fair coins are tossed S = { HHH, HHT, HTH, HTT, THH,
THT, TTH, TTT}
EVENT
Any subset of a sample space , For example, on
the roll of a die , getting an even number is an event . The
sample space is S = { 1, 2, 3, 4, 5, 6 } . This event is a
subset containing sample points P(E)= { 2, 4, 6}
NULL EVENT
An event which does not contain any
outcome is called an impossible event it is
denoted by ∅ . Eg; getting a number
greater than 6 in single throw of
Sure event
An event which contains all the
outcomes equal to sample space is called sure
event or certain event. Eg ; In a single throw of
dice if E is the event of getting an even less than
10 E = { 2, 4, 6,}
COMPOUND EVENT
An event which has more than one outcome
is called as compound event. Eg ; S = HH, HT,
TH, TT, The event be “at least one head appear”
E = HH, HT, TH As E has more than one
EXHAUSTIVE EVENTS
Events of a random experiment are said to
be exhaustive if at least one of them
necessarily occurs.
Example :rolling a die
Sample Space={1,2,3,4,5,6}
A:Getting even no={2,4,6}
B:Getting odd no={1,3,5}
C:Getting prime no={2,3,5}
The events a , b are exhaustive events
MUTUALLY EXCLUSIVE EVENT
MULTIPLICATION THEOREM
CASE1: when the events are
Independent
P(A n B)=P(A).P(B)
NOTE :replaced ( independent)
Not Replaced (dependent)
CASE 2: When the events are The above theorem can be extended to
Dependent any number of independent events
P(A n B) =P(A).P(B/A)
ADDITIONAL THEOREM (example)
MULTIPLICATION THEOREM (example)
Conditional probability
Let A and B be two events. Then conditional probability of B given A, is the
probability of happening of B when it is known that A is already happened.
Parameters n &p
Formula to find mean Formula to find mean
Variance & standard deviation Variance & standard deviation
ASSUMPTION
• The occurrences of events in
assumptions non Overlapping intervals
• The no of trials ‘n’ is fixed & are
Finite independent
• Each trial has 2 outcomes i.e. S • n*p=m remains fixed
Or F • n is approaching towards
• All trials must be independent Infinity.
• Probability of success ‘p’
remain constant for each trial
Example problem of BD
Example problem of poisson distribution
2.CONTINUOUS PROBABILITY DISTRIBUTION
1.Normal probability Assumptions
distribution • The normal curve is bell
The normal distribution refers shape
To a family of continuous • It is symmetric
Probability distribution by the • The mean median &mode
Normal equation. are equal
formula
Standard normal distribution formula