(Answered) 1 describe the rationale for utilizing probability concepts

Management Studies

1. Describe the rationale for utilizing probability concepts. Is there more than one type of probability? If so, describe the different types of probability.

2. Briefly discuss probability distributions. What is a normal distribution? Please provide a written example of how 'understanding distribution' can be an asset for any business project.

View complete question

Business Management, Management Studies

Category:- Business Management
Reference No.:- M91564401
Price:- $25

Verified Expert

Priced at $50 Now at $25, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Business Management

Long-term objectives are defined as the result a firm seeks

Long-term objectives are defined as the result a firm seeks to achieve over a specified period, typically five years. Any long-term objectives should be flexible, measurable over time, motivating, suitable, and understan ...

The philadelphia regional transport authority wishes to

The Philadelphia Regional Transport Authority wishes to estimate the proportion of central city workers that use public transportation to get to work. A recent study reported that of 100 workers, 64 used public transport ...

What should ngos non-governmental organization do in

What should NGOs (non-governmental organization) do in regions of conflict or war? The benefits of having NGO's personnel in such regions outweigh the risks?

Ellen is an anthropologist who has been working at olduvai

Ellen is an anthropologist who has been working at Olduvai Gorge in Tanzania for the past six months. She has been conducting research on the Internet. She finds a Web site with an article that proposes a revolutionary t ...

Usg corporation is a major manufacturer of mold-resistant

USG Corporation is a major manufacturer of mold-resistant building materials. The company's flagship product is Sheetrockc Brand Humitekc Gypsum Panels, which can be installed on wall or ceiling interiors in order to min ...

Are communication apps like slack replacing face to face

Are communication apps like Slack replacing face to face meetings between supervisors and employee's? If so, why?

Assume that the car lot contains 25 percent porches 35

Assume that the car lot contains 25 percent Porches, 35 percent BMWs, and 40 percent Volvos. Of the Porches, 20 percent have navigation systems, 90 percent of the BMWs have navigation systems, and 70 percent of the Volvo ...

A job-shop needs to assign 4 jobs to 4 workers the cost of

A job-shop needs to assign 4 jobs to 4 workers. The cost of performing a job is a function of the skills of the workers. The below table summarizes the cost of the assignment. Worker 1 cannot do job 3 and worker 3 cannot ...

You take out earthquake insurance on your homenbspthe

You take out earthquake insurance on your home. The annual premium is $600. In case of an earthquake the company will pay you $400,000. The probability of an earthquake in your area is 0.0002. What is the expected value ...

Show examples of organizations that are more focused on

Show examples of organizations that are more focused on simply bringing in money to the organization and those that are more focused on building relationships. What are the differences in how they conduct fundraising act ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Management Expert