CA Foundation Exam > CA Foundation Videos > Quantitative Aptitude for CA Foundation > Probability Basics
Probability Basics Video Lecture | Quantitative Aptitude for CA Foundation
|
114 videos|164 docs|98 tests
|
FAQs on Probability Basics Video Lecture - Quantitative Aptitude for CA Foundation
| 1. What are the basic concepts of probability? |  |
Ans. Probability is a measure of the likelihood that an event will occur. The basic concepts of probability include sample space, events, and probability distribution. The sample space is the set of all possible outcomes of an experiment. An event is a subset of the sample space, representing a particular outcome or set of outcomes. Probability distribution assigns a probability to each event in the sample space, indicating the likelihood of its occurrence.
| 2. How is probability calculated? | |
Ans. Probability can be calculated by dividing the number of favorable outcomes by the total number of possible outcomes. This is known as the classical or theoretical probability. Another method is empirical probability, which is based on observed data. It involves dividing the number of times an event occurs by the total number of trials. Finally, subjective probability is based on personal judgment or beliefs about the likelihood of an event.
| 3. What is the difference between dependent and independent events in probability? | |
Ans. In probability, dependent events are those in which the occurrence or non-occurrence of one event affects the probability of the other event. For example, drawing a card from a deck without replacement is a dependent event because the probability of drawing a certain card changes depending on the outcome of the previous draw. On the other hand, independent events are those in which the occurrence or non-occurrence of one event has no impact on the probability of the other event. Tossing a coin multiple times is an example of independent events.
| 4. How does conditional probability work? | |
Ans. Conditional probability is the probability of an event occurring given that another event has already occurred. It is denoted as P(A|B), where A is the event of interest and B is the event that has already occurred. The formula for conditional probability is P(A|B) = P(A∩B) / P(B), where P(A∩B) represents the probability of both events A and B occurring together, and P(B) represents the probability of event B occurring. Conditional probability allows us to update our initial probability estimates based on new information.
| 5. What is the concept of expected value in probability? | |
Ans. Expected value, also known as the mean or average, is a measure of central tendency in probability. It represents the long-term average outcome of an experiment. The expected value is calculated by multiplying each possible outcome by its corresponding probability and summing them up. It provides a way to summarize the distribution of probabilities and make predictions about future outcomes. The expected value can be used to guide decision-making and assess the potential gains or losses in various scenarios.
Related Exams
About this Video
|
4.65/5 Rating |
|
Dec 22, 2024 Last updated |
Video Description: Probability Basics for CA Foundation 2024 is part of Quantitative Aptitude for CA Foundation preparation.
The notes and questions for Probability Basics have been prepared according to the CA Foundation exam syllabus.
Information about Probability Basics covers all important topics for CA Foundation 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Probability Basics.
Introduction of Probability Basics in English is available as part of our Quantitative Aptitude for CA Foundation for CA Foundation & Probability Basics in
Hindi for Quantitative Aptitude for CA Foundation course. Download more important topics related with notes, lectures and mock test series for
CA Foundation Exam by signing up for free.
Description
Video Lecture & Questions for Probability Basics Video Lecture | Quantitative Aptitude for CA Foundation - CA Foundation full syllabus preparation | Free video for CA Foundation exam to prepare for Quantitative Aptitude for CA Foundation.
Information about Probability Basics
Here you can find the meaning of Probability Basics defined & explained in the simplest way possible.
Besides explaining types of Probability Basics theory, EduRev gives you an ample number of questions to practice Probability Basics tests,
examples and also practice CA Foundation tests.
|
114 videos|164 docs|98 tests
|
|
Explore Courses for CA Foundation exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Probability Basics Video Lecture | Quantitative Aptitude for CA Foundation
,Important questions
,Viva Questions
,Sample Paper
,Probability Basics Video Lecture | Quantitative Aptitude for CA Foundation
,ppt
,MCQs
,Summary
,Free
,practice quizzes
,past year papers
,mock tests for examination
,Previous Year Questions with Solutions
,Semester Notes
,shortcuts and tricks
,Probability Basics Video Lecture | Quantitative Aptitude for CA Foundation
,Exam
,Objective type Questions
,video lectures
,Extra Questions
,study material
;
Study Probability Basics on the App
Students of CA Foundation can study Probability Basics alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Probability Basics,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Probability Basics is prepared as per the latest CA Foundation syllabus.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup