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What is the main focus of probability in class 12 commerce?
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?
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?
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?
What is the definition of probability?
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In probability, what does the sample space represent?
In probability, what does the sample space represent?
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What is the complement of an event in probability?
What is the complement of an event in probability?
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