Question

Amazon's executive team is strategizing for the future amidst the Corona-19 virus shutdown of companies and impact on the economy. Provide 2 ways that Amazon can use statistics to help them make plans for their business under the conditions of this crisis.

Answer 1

First Advice:

Try to use time series models in finance and econometrics to understand the underlying trend of the corona spread in order to realize when the situation will be under control so that the company can again resume business as in past few years.

Second Advice:

Try to use some stochastic models in order to detect the behaviour of the stoch market> based on the analysis the company should decide which shares are to be sold or purchased and in what price.

Third Advice:

Try to reach those countries where people can not go outside freely and deliver necessary things to their door steps.