How probability distributions affect management decisions

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Assignment:

Explanation of how probability distributions affect management decisions. In your explanation, address the following:

1. Provide your results of the following:

Your calculations for your standard deviation
The range within which 90% of the prices of cigarettes in your area falls
The chances of anyone paying less than 4 dollars for a pack of cigarettes
The chances of anyone paying more than 10 dollars for a pack of cigarettes

2. Describe what implications this concept has for management decision making.

3. Explain how you might use information like this in your current work

Reference no: EM133267766

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