Probability and coincidence
What are the differences between probability and coincidence? Can the probability be more than 1 or less than 0? Explain why or why not.
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Explain why it is important to find out the shape of data distribution before computing the descriptive statistics? Do all variables follow normal distribution? Describe why or why not. Describe with examples?
You have been approached by the CEO of your bank to start investigating the issues involved in expanding what right now is just a domestic bank to an international one.
Describe the role of probability concepts in business decision-making? Give specific examples.
You have just invented a new product that you believe will make you a millionaire in Canada. However, you do not have sufficient funds to start a company. You have heard that you may get assistance from venture capital organizations or
Write down the differences between the probability and coincidence? Can the probability be more than 1 or less than 0? Describe why or why not.
An oil change shop advertised to change oil within 15 minutes. Based on the data collected on a typical day, what is the probability that oil change will take 15 minutes or less time? Based on the data, do you think the business claim is valid? Ex
Examine and discuss how Amazon employs the budget in developing the business strategy of the company indicating if the budgeting supports the strategy and Propose an area in the long-term budget that will benefit from kaizen budgeting,
What are the features of standard normal distribution? The HR department of an organization collects data on employees' age, salary, level of education, gender, and ethnicity. Which data do you think is more probable to follow normal distribution?
Is it ever possible for United States to increase production of civilian goods without reducing production of government goods? Why did you answer this way? What conditions are you assuming? Describe.
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