Please describe research methods and process for limiting the uncertainty in the decision to purchase a home or not. 700 word limit

1. Research-Include how you applied concepts to formulate the decision.

2. Interpretation of Data Applying Bayes' Theorem-Include appropriate probability concepts and the application to find resulting data to limit uncertainty in this decision.

3. Probability Concepts for Limiting Uncertainty-Identify each outcome from the statistical analysis, providing rationale for each.

4. Trade-off between Accuracy and Precision-Identify trade offs between accuracy and precision required by various probability concepts and the effect on your data.

5. Statistical Rationale behind Decision- Include the decision made based on statistical data"