Question-1
post a 250-300-word response to the discussion question below. Please, make sure your answer reflects your own words and critical thinking.
What is the role of probability concepts in business decision-making? If you were a manager, what do you think will be some of the benefits of applying probability concepts to solving business-related problems? Would business decisions suffer without probability concepts? Explain
Question 2:
post a 300-400-word response to the discussion question below. Please, make sure your answer reflects your own words and critical thinking.
What are the characteristics of standard normal distribution? The HR department of an organization collects data on employees’ age, and salary. Which data do you think is more likely to follow a normal distribution? Explain why. How would you calculate area between two data values? How would you calculate area above or below a certain value? How can knowing these areas help you?
Answer will be sent by email as attachment.
