Use the Library or the Internet to research and find a situation where probabilities might be...

Use the Library or the Internet to research and find a situation where probabilities might be useful in daily life or in your chosen career. Complete the following:

Explain in detail how probabilities are used in the situation you chose.What makes probabilities useful in this situation? Do these probabilities affect decision making in this situation? Explain your answer.Give a specific example of how probabilities are used in this situation.How are probabilities important to decision making in this situation? If they are not,

Expert Solution

Probability is the term used for the likelihood an event will occur such as drawing an ace from a deck of cards or picking which dress to wear from the wardrobe etc. We use probability in daily life to make decisions when we are not sure about the outcome. Most of the time we use probability to make judgment calls to determine the best course of action.

Real Life Scenario

Planning using Weather Forecast : Meteorologists can't predict exactly what the weather will be, so they use tools and instruments to determine the likelihood that it will rain, snow or hail. For example, if there's a 60-percent chance of rain, then the weather conditions are such that 60 out of 100 days with similar conditions, it has rained. We may decide to wear closed-toed shoes rather than sandals or take an umbrella to work. In this scenario, Probability helped to prepare for a situation which might have caused inconvenience if we had gone outdoors without an umbrella or were in sandals.

orchestra answered 2 years ago

Use the AIU Library, magazine, newspaper, or the Internet to research and find a situation where...

Use the AIU Library, magazine, newspaper, or the Internet to research and find a situation where data has been represented by a visual aid and where you believe the visual aid is being used in a manner that evokes emotion or in a manner that misrepresents these data. Note: Some graphics may not be copied and pasted into the DB thread correctly. Please insert your graphics into a Word document and attach the Word document to your DB post so...

Use the Internet and/or Strayer Library to research the financial statements of a manufacturing company.

For this discussion:Use the Internet and/or Strayer Library to research the financial statements of a manufacturing company.Analyze the cost components of the primary manufacturing process and examine the significance of cost behavior analysis to the company.Evaluate the value of using cost behavior analysis to management.

Use the Internet or Strayer Library to research a company that had a change in accounting...

Use the Internet or Strayer Library to research a company that had a change in accounting principles within the past five (5) years. Discuss the accounting principles that the identified company changed and explain the major reasons why the company changed accounting principles. Give your opinion on whether you believe the change in accounting principles was motivated by an attempt to provide more useful information or to make financial results look better to investors and creditors. Provide a rationale for...

"The Cost of Complexity" Use the Internet and/or Strayer Library to research financial statements of a...

"The Cost of Complexity" Use the Internet and/or Strayer Library to research financial statements of a manufacturing company. Analyze the cost components of the primary manufacturing process and examine the significance of cost behavior analysis to the company. Evaluate the value of using cost behavior analysis to management. Examine the elements of the cost-volume-profit (CVP) income statement and provide your opinion on the benefits of its use for decision making by the management of the company researched over traditional income...

Please respond to the following: Use the Internet or Strayer Library to research at least two...

Please respond to the following: Use the Internet or Strayer Library to research at least two companies that have experienced downgrades related to stock performance or bond ratings within the last five years. Analyze the primary ways in which auditors would use the information from downgrades to assess business risk or evaluate the likelihood that the downgrades would impact the auditor's assessment of the client's business environment. Ascertain the major ways in which this information would impact the audit risk...

a) Use the internet, library, or other information source to research imports and exports for any...

a) Use the internet, library, or other information source to research imports and exports for any state or country in the world. Pick a country or state and discuss its import goods and export goods. You should include some dollar values or % of GDP figures b) For the country you choose, discuss some possible sources of comparative advantage for that economy.

Using the internet or our library for research, find three examples of product problems that companies...

Using the internet or our library for research, find three examples of product problems that companies have faced during marketing in global markets, then describe these problems and how these problems could have been avoided.

Use the Internet or Strayer Library to research at least two(2) companies that have experienced...

Use the Internet or Strayer Library to research at least two (2) companies that have experienced downgrades related to stock performance or bond ratings within the last five (5) years. Next, analyze the primary ways in which auditors would use the information from downgrades to assess business risk or evaluate the likelihood that the downgrades would impact the auditor's assessment of the client's business environment. Ascertain the major ways in which this information would impact the audit risk model equation....

•Use the Internet or Strayer Library to research at least two (2) companies that have experienced...

•Use the Internet or Strayer Library to research at least two (2) companies that have experienced downgrades related to stock performance or bond ratings within the last five (5) years. Next, analyze the primary ways in which auditors would use the information from downgrades to assess business risk or evaluate the likelihood that the downgrades would impact the auditor's assessment of the client's business environment. Ascertain the major ways in which this information would impact the audit risk model equation....

Go to the local library or use the Internet to research how large firms, especially corporations,...

Go to the local library or use the Internet to research how large firms, especially corporations, are rewarding employees who have entrepreneurial skills.Pick a company and answer the following questions: a. Why is an entrepreneurial attitude important in that company today? b. What makes an entrepreneurial employee different from other employees? c. How are these employees being rewarded, and are the rewards worth the effort? Write a report that summarizes your findings.

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