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What role of probability concept in business decision-making

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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.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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