Using the Multinomial Formula, Find the Probability of the Following

question 39

Multiple Choice

Using the multinomial formula, find the probability of the following data.

• A)0.057
• B)0.224
• C)0.014
• D)0.022

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Definitions:

Qualitative Forecasting

A forecasting method that relies on expert judgments and non-quantifiable information to predict future outcomes.

Special Expertise

Unique skills or knowledge in a particular field, making an individual or organization capable of performing tasks that require specialized understanding.

Quantitative Forecasting

A statistical approach to predict future events or outcomes based on numerical data and analysis.

Statistical Analyses

The process of collecting, reviewing, and interpreting data to make conclusions based on statistical methods.