1.What are the differences between probability and coincidence? Can the probability be more than 1 or less than 0? Explain why or why not.
2.What is the role of probability concepts in business decision-making? Provide specific examples.
3.What are the basic differences between a discrete and a continuous distribution?
4.What are the characteristics of standard normal distribution? Explain how to calculate the z-test static. Explain how a z-value is used to calculate the area under the distribution and the meaning of P(0 to z) when z = 1.96.