Narrows the spectrum to the mean-median

Assignment Help Accounting Basics

Reference no: EM13762249

Trend forecasters, sometimes called "futurists," use three "P's": Possible, Probable, and Plausible. "Possible" includes the "outliers" on the classic bell curve. "Probable" narrows the spectrum to the mean, median, and mode at the top of the bell curve. "Plausible" narrows the probable to those activities or options that humans will actually select for action. The three "P's" illuminate how we make decisions.

How, in fact, do people make decisions? Do they use data-driven decision making? Or do they use political decision making? Or do they make decisions based on personalities and/or emotions and biases? State your position and provide at least two examples of how you think people make decisions. Be sure to make a good argument for your position. The answer should be no longer than 2 paragraphs.

Reference no: EM13762249

Questions Cloud

What is the total surplus and producer surplus : How much producer surplus - what is the total surplus - With the price floor at $0.17 per pound of cheese, consumers buy 211 billion pounds of cheese. How much consumer surplus is created now?

Explain why networking standards are important : Explain why networking standards are important and why equipment that uses these standards should be purchased

Ethics case-magnetic toys can hurt : Mega Brands has been selling Magnetix toys for many years. It also sells Mega Bloks, construction toys based on Spider-Man, Pirates of the Caribbean, as well as other products in over 100 countries.

Corporations and professional accountants : What are philosophy approaches to ethical decision making relevant to modern corporations and professional accountants?

Narrows the spectrum to the mean-median : Trend forecasters, sometimes called "futurists," use three "P's": Possible, Probable, and Plausible. "Possible" includes the "outliers" on the classic bell curve. "Probable" narrows the spectrum to the mean, median, and mode at the top of the be..

Write a book review of macbeth : Write a Book review of Macbeth.

Creating a file reader : The program begins by creating a File Reader object and a BufferedReader object to read the file terms.txt.

Soil infiltration and runoff problem : The smooth mountain rock surface type affect the amount of runoff.

What contribution would you like to make : How would you like to affect the history of education? What contribution would you like to make? What do you hope you are remembered for?

User Account

All Pages