Note down a research that requires a decision making with probabilities.

Write a research that requires a decision making with probabilities?

• Research statistical data in a business context that requires a decision. Utilize probability concepts to formulate a decision.
• Write down a 700- to 1,050-word paper, explaining your research methods and process for limiting the uncertainty in the decision. Explain the following:
• Includehow you applied concepts to formulate your decision
• Contain appropriate probability concepts and your application to find resulting data to limit uncertainty in this decision.
• Recognize each outcome from your statistical analysis, providing rationale for each.
• Make out tradeoffs between accuracy and precision required by various probability concepts and the effect on your data.
• Comprise the decision you made based on statistical data.