Probability Concepts 1. Fundamental Concepts of Probability 2. Mutually Exclusive and Collectively Exhaustive 3. Statistically Independent and Dependent Events 4. Bayes’Theorem Learning Objectives • Understand the basic foundations of probability analysis • Learn the probability rules for conditional probability and joint probability • Use Bayes’ theorem to establish posterior probabilities Reference: Text Chapter 2 Introduction • Life is uncertain; we are note sure what the
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Fundamental of Macroeconomics ECO/372 There are many words out there that people do not think about all the time but these terms are mainly used in the business world. These words are Gross Domestic Product‚ Real GDP‚ Nominal GDP‚ Unemployment rate‚ Inflation rate‚ and Interest Rate. Gross Domestic Product is defined as the market value of all the final goods and services produced within a country during a given period. Real GDP is considered to be a nation’s total output of goods
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Fundamentals of Macroeconomics Paper Part 1. Economists use gross domestic product‚ unemployment rate‚ and interest rates as tools to determine economic trends and predict the future changes in the economy. They try to manipulate the frequency‚ duration‚ and extremes of those changes; a never-ending effort to minimize the roller coaster effect. Following is a list of loose definitions for those tools. Gross Domestic Product (GDP) The gross domestic product‚ or GDP‚ is the amount
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Assignment 02 Chapter 2 pg 70: 1‚ 2‚ 7‚ 10‚ 11‚ 12‚ 13‚ 16‚ 19‚ 20‚ 26 1. What are the different types of application architectures? There are three different fundamental application architectures. In host-based networks‚ the server performs virtually all of the work. In client-based networks‚ the client computer does most of the work; the server is used only for data storage. In client-server networks‚ the work is shared between the servers and clients. The client performs all presentation
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COSTACCOUNTING TERMS 1. Define cost object and give three examples Cost object is defined as “Anything for which a separate measurement of cost is desired”. The term cost object and cost objective is synonymous. Cost object may refer to a process‚ a cost centre‚ and cost units. Cost unit is a quantitative unit of product or service in relation to which cost are ascertained. Cost centre is a location‚ function or item of equipment in
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The Fundamentals of Leadership in the Workplace For centuries there have been leaders and people have debated what makes a great leader. Leadership goes back to the time of the ancient Greeks. During the 1500’s‚ there was an Italian statesman Niccolo Machiavelli‚ who wrote The Prince‚ which he described methods for leaders to use in acquiring power (Leadership 2003). This all led to the recent activity dating to the early 1900’s and what has been developed and used in today’s society. There
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Fundamentals of Technical Writing ENG221 University of Phoenix Technical writing and expository writing are both designed to instruct the reader‚ however technical writing expects the reader to take some sort of action based upon the reading. In the workplace technical writing seems to be more prevalent in the form of technical manuals and instruction booklets‚ whereas expository writing has a wider variety of uses. Although
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The Fundamental Tenets Of Buddhist Ethics The Moral Dilemmas Word Count: 2‚521 To live is to act‚ and in doing so our actions can have either harmful or beneficial consequences for oneself and others. Buddhist ethics is concerned with the principles and/or practices that help one to act in the ways that are helpful rather than harmful. (fwbo.org) Primary to the human factor is the fact that work implies equally to any setting‚ a supermarket or the stock market. No matter where
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Fundamentals of Macroeconomics Paper ECO 372 12/12/2013 The Gross Domestic Product (GDP) This is used to measure the total market value of all goods and services. The value is measure against the total amount produced within a country in a year or over a period of time. There can be issues with the accuracy of the calculations‚ because the Government receives the data which only analyzes the output of goods and services that were reported. There may be circumstances
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Fundamentals of Relational Database Design By Paul Litwin This paper was part of a presentation at a Microsoft TechEd conference in the mid-1990s. It was adapted from Microsoft Access 2 Developer’s Handbook‚ Sybex 1994‚ by Ken Getz‚ Paul Litwin and Greg Reddick. Reprinted with permission of the publisher. While the paper uses Microsoft Access (version 2) for the examples‚ the vast majority of the discussion applies to any database and holds up pretty well over 11 years after it was written. Overview
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