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Probability Factors

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Please explain probability in Business relations.

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Solution Summary

The solution addresses and advises how the factors of probability affect business ratios.

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Probability

Probability is nothing more than uncertainty. Look at today's economy, the probability of the nation going into a depression is much greater than it was two years ago. The banks and Wall Street are using probability in the sense of a numerical measure with the high chance that this particular event will occur. The values of probability are placed on a scale from 0 to
1.

The values that are closest to the 0 ...

Solution provided by:
Jo Ann Prevetti, MBA, PhD (IP)
Education
  • Master of Business Administration, University of Phoenix
  • Bachelor of Science in Paralegal Studies, Kaplan College
  • Business Diploma, Katharine Gibbs Business College for Women
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