0 = 0% chance of occurring
1 = 100% chance of occurring
Knowing that something will happen, all probabilities add up to 1. Mapping out the outcomes and quantifying them allows us to calculate the individual probabilities.
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Similar ideas to 3. Constructing a Distrubution for D RV
Most of us tend to underestimate how long projects and tasks will take us to finish.
Time management tips:
Knowing that the future will not work out exactly as planned, it is better to prepare for a variety of outcomes, including some of the bad ones. Then, when the worst-case scenario happens, we realize it's not all bad, and we can manage if it happens again.
It will ...
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