Download - Probability
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
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".
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
In Business
Probability is used in calculation of long term gains
& loses and also for many other business related works
Probability Applications in Business
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
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
8-11
Probability can also be use to create
Scnerio Analysis
Risk Evaluation
Sales Forecasting
Probability Applications in Business
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.
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
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
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
Reorganizing effort in NBP
Starting retail Bnking
To improve the motivation of staff a merut based culture
Opportunities
Threats
Strong competitors
Lack of innovation