Explore BrainMass

Explore BrainMass

Subjective probability concepts, descriptive statistics in workplace, normal distribution

What are some conditions under which business decisions are made using subjective probability concepts? Give examples of subjective probability.

Give three different examples of where you might apply descriptive statistics in a workplace. Explain why each is appropriate for the data you are describing.

Where might you use the concept of the normal distribution (or departure from it) in the workplace? Give specific examples.