Probability concepts of business

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As a health care manager, what are some benefits of applying probability concepts to solve business-related problems? Would business decisions suffer without probability concepts? Explain.

Reference no: EM13114671

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Find probability of ending value of dealer-s hand is broke : The dealer is required to stay with soft 18, 19, 20, or 21. For each possible up card, determine the probability that the ending value of the dealer's hand is 17, 18, 19, 20, 21, or broke.
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Probability concepts of business : As a health care manager, what are some benefits of applying probability concepts to solve business-related problems? Would business decisions suffer without probability concepts? Explain.
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