Question: How would you best define a probability value? What is its basic purpose? What values can a probability value assume? ovide one example of how

 How would you best define a probability value? What is its

How would you best define a probability value? What is its basic purpose? What values can a probability value assume? ovide one example of how we might encounter the use of probability values in real-life. R ) Data from a weekly sales revenue report for a company shows that over the past financial year, weekly sales revenue had a median value of $0.6m, a range of $0.85m, a mean of $0.75m and a minimum value of $0.3m. i) What was the largest weekly sales revenue? ii) Approximately what percentage of weeks would have had sales revenues greater than $0.6m? iii) Briefly explain how you know that the distribution of weekly sales revenue values is not symmetric. iV) State whether the distribution of weekly sales revenue values is left skewed or right skewed. Briefly explain the reasoning behind your answer. OR

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