Title: Master 12th Business Maths Exercise 7.1 with these Solutions
Introduction:
Business Maths is an essential subject for students aimed at instilling logical thinking and problem-solving skills. One of the critical topics in 12th Business Maths is Exercise 7.1, which requires a deep understanding of concepts for seamless exams. This article aims to provide students with solutions to Exercise 7.1, delving into the critical concepts that can greatly help students improve their marks.
Body:
Understanding Exercise 7.1
Exercise 7.1 consists of questions under sections A, B, C, and D. Section A includes questions related to finite probability distribution, Section B focuses on Baye’s theorem, Section C comprises of the Expected value of a discrete random variable, and the last Section, D, contains questions related to the variance of a discrete random variable. Solving these questions necessitates comprehensive knowledge of probability concepts.
Finite Probability Distribution
A finite probability distribution is a discrete probability distribution, and its probabilities can be represented by discrete values. In Section A, questions have to be solved based on finite probability distribution. Students should understand the concept of the distribution function, laws of probability, and independence of events, among others, to solve these questions.
Baye’s theorem
Baye’s theorem
Baye’s theorem is a critical concept tested in Section B. It deals with conditional probability, which is the probability of an event occurring based on some prior knowledge. Students must understand the specific steps of calculating Baye’s theorem and identify the conditional probabilities.
Expected value of a discrete random variable
Section C focuses on the expected value of a discrete random variable. This concept is essential in decision-making, and students should grasp its calculations and properties to solve the questions. It involves the multiplication of probabilities of the outcomes with their respective values.
Variance of a discrete random variable
The last Section, D, deals with the variance of a discrete random variable. Understanding variance is crucial for managing risk and probability, particularly in decision-making. Students should comprehend its meaning, calculation, and properties to solve questions related to it.
Conclusion:
Exercise 7.1 is a critical topic in 12th Business Maths, and students must grasp the fundamental concepts well to perform better in their exams. Understanding finite probability distribution, Baye’s theorem, expected value, and variance is essential. The solutions discussed in the article will help students gain mastery of these concepts, equipping them with problem-solving skills and logical thinking capabilities necessary for success in the subject.
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