# Applications for Probability

Not what you're looking for?

In what situations might you use probability as a manager to approach business-related problems? What are the advantages to using probability concepts in business decisions? Are there any disadvantages or possible pitfalls to avoid using probability in business?

##### Purchase this Solution

##### Solution Summary

This solution helps answer questions regarding applications of probability.

##### Solution Preview

When considering any investment a business would use probabilities. The manager would look at the investment and to value it he or she would take a number of potential values for the object at the intended time of its ...

##### Purchase this Solution

##### Free BrainMass Quizzes

##### Measures of Central Tendency

Tests knowledge of the three main measures of central tendency, including some simple calculation questions.

##### Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.

##### Know Your Statistical Concepts

Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.

##### Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.