Question

What happens if we do not have the xi data needed to construct probability distributions (densities)? Specifically, I would like for you to discuss the following: Suppose that you are to function as a consultant to a company that wants to construct a shopping mall in an unfamiliar area. What are ideas and variables you should consider so as to generate a prob. distribution?

Answer 1

SOLUTION

Ideas and variables i should consider so as to generate a probability distribution.

1. If we don not know the variables then we have to find you the responsible variables in the given cases.
2. In the event that we don't have the foggiest idea about the variable then we need to discover you the reaction variables is the given cases.
3. for instance when a consultant of an organization who needs to consultant a shopping center in an unusual region the will attempt to asses the variables can cause.
4. issues of focal points to the concession like of land no of required to finish the risk,etc.