Project #35995 - Discussion Question Business Stat

During this session we study discrete probability distributions. Discrete probability deals with situations where the possible outcomes are limited. For example, tossing a coin has only two possible outcomes as a result. Either a head or a tail is the result. It is interesting that many people believe they can affect the result of such situations even though the probability does not change. For example, if a coin is tossed ten times with a head resulting each time (unusual but not impossible), the probability of observing a head on the eleventh toss is .5 which is the same for every toss no matter the result of previous tosses.

People often ignore probability. Some people buy cars that have a high probability of breakdown; people marry others who have major character flaws believing that they will not be affected, etc.

Can you share an example where you perceive that knowledge and adherence to the laws of probability can lead to better outcomes particularly with discrete probability issues?

 

i need three hundred word count  MBA Business Stat course. APA Format with references 

Subject Business
Due By (Pacific Time) 07/23/2014 12:00 am
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