MBA 5008 Quanatitative Analysis
Most business decisions involve elements of uncertainty and
randomness. The notion of probability is used everywhere, both in
business and in our daily lives. I reviewed the following video and
need some help answering this question:
https://www.youtube.com/watch?v=_sY3ZRxhBaM
A. Explain the concept of probability by applying a specific
application example of probability in business? B. Discuss the
economic implications of the video?