Explain the elements of decision how does statistical

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1. In management, how important is it that you learn to use mathematics to solve problems? How valuable is an MBA degree without the ability to identify the cost of a company's capital, its return on investment, gross margin percentage, break-even point, or which percent of a population would be willing to buy its product?

2. What are the elements of a decision? How does statistical decision theory differ in conditions of certainty and uncertainty? When making a decision, can doing nothing be a valid alternative? Why?

Reference no: EM13471581

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