Probability
- 2. BY : MUHAMMAD ARSALAN QURESHI
- 3. PROBABILITY Probability can be defined as ’’the extent to which something is likely to happen’’
- 4. In Matematics & Statistics Probability can be defined as ‘’the extent to which an event is likely to occur…. measured by the ratio of the favourable cases to the whole number of cases possible’’ PROBABILITY
- 5. PROBABILITY Probability is the chance that something will happen - how likely it is that some event will happen. Sometimes you can measure a probability with a number like "10% chance of rain", or you can use words such as impossible, unlikely, possible, even chance, likely and certain. Example: "It is unlikely to rain tomorrow".
- 6. PROBABILITY
- 7. Classification of Probability Classical Probability (The Probability of certain events is already known or the resulting probabilities are definitive) Empirical Probability (Based on past experience) Subjective Probability (…is assigned to an event based on whatever evidence is available) PROBABILITY
- 8. In Business Probability is used in calculation of long term gains & loses and also for many other business related works Probability Applications in Business
- 9. Probability is very helpful for Decision making Conducting an experiment or sample test provides an outcome that can be used to compute the chance of events occuring in the future Probability Applications in Business
- 10. Probability in Manufacturing Manufacturing Business can use Probability to determine the cost-benefit ratio In other instances , manufacturing firms use probability to determine the possiblity of financial sucess Probability Applications in Business
- 11. 8-11 Probability can also be use to create Scnerio Analysis Risk Evaluation Sales Forecasting Probability Applications in Business
- 13. National Bank of Pakistan Vision Mission National Bank of Pakistan (the Bank) was established on November 9, 1949 under the National Bank of Pakistan Ordinance, 1949 in order to cope with the crisis conditions which were developed after trade deadlock with India and devaluation of Indian Rupee in 1949. To be recognized as a leader and a brand synonomous with trust Instutionalizing a merit & performance culture , creating a distinctive brand identity, Best international practices.
- 14. The Probability Program supports research on the theory and applications of probability. In NBP include discrete probability, stochastic processes, limit theory, In NBP interacting particle systems, stochastic differential and partial differential equations, and Markov processes. Research in probability which involves applications to other areas of science and engineering is especially encouraged Nestle PakistanProbability Applications in NBP
- 15. Products In NBP more then is a risk advisory firm which provides Basel II compliant risk management solutions and consulting. As part of its practice, Alchemy holds both, domestic and international training workshops for industry executives on the most pressing issues of the time. These workshops enjoy extensive participation and over the years have included 1000 plus regulators, senior banking and treasury professionals from institutions in Bangkok, Singapore, Pakistan, Saudi Arabia and UAE. Probability Applications in NBP
- 16. SWOT Analysis Strengths Brand image of National Bank of Pakistan Computerized networking Focus on expanding Business worldwide Organizational Culture Stratigic Management Weeknesses Monitoring & control of Branches Exposure & Experience of the staff Less attention to the rural Department
- 17. Reorganizing effort in NBP Starting retail Bnking To improve the motivation of staff a merut based culture Opportunities Threats Strong competitors Lack of innovation