What are some ways that you can think of to apply probability theory in business or even in ones personal life? For example, if you were playing a game of poker with your friends, it would be helpful to know how the probability for winning a hand with a pair of aces in your hand is different than if you were holding a two of clubs and nine of hearts. When investing your money, you might need to choose between an investment that has a 95% chance to earn 3% or one that has a 65% chance to earn 30%. Business owners and managers make numerous decisions throughout the life of the business that are based on the probability of an event happening, consumer tastes changing or remaining the same, a production goal being met on time, and so on.
Related Completed Projects
Write a thematic essay on “SONNY’S BLUES” by James Baldwin
Write a Clinical Decision-Making Assessment: A report into the clinical decisions made for an episode of care.
What motivates the Growth and Development of the Athlete
Discuss how you may be able to use conflict in a positive way to promote interdisciplinary teamwork and collaboration.