Probability in Class 12 Commerce
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Questions and Answers

What is the main focus of probability in class 12 commerce?

  • Calculating present value of money in financial transactions
  • Exploring consumer behavior in the market
  • Analyzing the likelihood of future events in business and economics (correct)
  • Studying historical data in the commerce sector

    • Why is understanding probability important for commerce students?

  • To make informed business decisions based on future uncertainties (correct)
  • To analyze past financial trends for investment purposes
  • To calculate current market value of commodities
  • To understand consumer psychology in marketing

    • What is a key application of probability in commerce?

  • Determining historical stock prices
  • Forecasting consumer spending patterns
  • Risk assessment and management (correct)
  • Calculating currency exchange rates

    • What is the definition of probability?

    <p>The likelihood of a specific event occurring</p> Signup and view all the answers

    In probability, what does the sample space represent?

    <p>All possible outcomes of an experiment</p> Signup and view all the answers

    What is the complement of an event in probability?

    <p>The event not occurring</p> Signup and view all the answers

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