I am quite new to probability theory but I am interested in the subject.
My question:
If you have a sales plan of $21,000,000 over 5 weeks, and in week 1 reach 10% (2.1 million) and in week 2 you reach 30% (6.3 million) and in week 3 you reach 45% (9.45 million). What is the probability that in week 4 you will reach 80% and in the last week you will reach 100%? What could be an algorithm/theorem that I could use that will give me the probability (P) that in week (N) I can reach a goal of (X) % ?
Again, I am new to probability and statistics so please go easy on me. I am also not looking for a hand out, I just can't find anything on the internet.
Please let me know if I am missing any information.
Thank you!
This question is specifically of statistical inference. Even more specifically, of parameter estimation. You have to find some fundamental information about the scenario then you can start plugging it into formulas and models. See if you can narrow down your search for an answer based on this.
I am interested in this question too but I haven't started on estimation yet. I