Question: Probability Concepts and Applications
Answer the following questions
1. Describe the rationale for utilizing probability concepts. Is there more than one type of probability? If so, describe the different types of probability.
2. Briefly discuss probability distributions. What is a normal distribution? Please provide a written example of how 'understanding distribution' can be an asset for any business project
The following requirements must be met: Write 1,000 words using Microsoft Word in APA 6th edition style.
1. Primary sources such as government websites (United States Department of Labor - Bureau of Labor Statistics, United States Census Bureau, The World Bank), peer reviewed and scholarly journals and Google Scholar.
2. Secondary and credible sources such as CNN Money, The Wall Street Journal, trade journals, and publications
3. Non-credible and opinion based sources such as, Wikis, Yahoo Answers, eHow, blogs, etc. should not be used.