Find resulting data to limit uncertainty-business decision

Assignment Help Basic Statistics

Reference no: EM13155619

Research statistical data within a business context that requires a decision to be made. Then, use probability on your researched data to formulate a decision.

Write a 700- to 1,050-word paper in APA format explaining your research methods and process for limiting the uncertainty within the decision to be made. Discuss your results in an in-depth narrative. Be sure to explain the following in your paper:

o How you applied the concepts from the example scenario to formulate your business decision of uncertainty.

o The appropriate probability concepts and your application of them to find resulting data to limit the uncertainty within this business decision.

o Identification of each discrete outcome from your statistical analysis, providing statistical rationale for each one.

o The trade-offs between accuracy and precision required by the use of various probability concepts, and the effect on your data.

o The decision you made based on your statistical data.

Reference no: EM13155619

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