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Explain the rationale for utilizing probability concepts

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Reference no: EM131587792

Assignment: Probability Concepts and Applications

Answer the following questions

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.

Your paper should reflect scholarly writing and current APA standards. Please include citations to support your ideas.

Also as a kind reminder, although it's not required that you use one or some of figures, diagrams, flowchart or formulas in your projects/assignments, I would still strongly suggest that you add/insert it/them in your project to better "visualization" of your assignments. Think of the person to whom you present this project as your boss or someone who has limited knowledge about the topic you are presenting so your project can appear to be appealing and easy to understand to them?!

I do not have any specifics on word count or pages requirement but will update when available. If you require any additional information please do not hesitate to ask.

Reference no: EM131587792

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