Qnt 561 Week 3 Paper

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1. Individual Assignment: Decision of Uncertainty Paper


· Resource: Week Three Student Roadmap

· Research statistical data in a business context that requires a decision. Use probability concepts to formulate a decision.

· Write a 700- to 1,050-word paper, explaining your research methods and process for limiting the uncertainty in the decision.

· Address the following in your paper: (Introduction-150) Tuesday

o Include how you applied concepts to formulate your decision. (150) Tuesday

o Include appropriate probability concepts and your application to find resulting data to limit uncertainty in this decision. (150) Wedanesday

o Identify each outcome from your statistical analysis, providing rationale for each. (150) Wednesday

o Identify tradeoffs between accuracy and precision required by various probability concepts and the effect on your data. (150) Thursday

o Include the decision you made based on statistical data. (150) Friday (Conclusion-150)

· Format your paper consistent with APA guidelines.

When looking at statistical data in businesses it is important to note that there needs to be decisions inferred in order to reach a conclusion about a particular scenario. When looking at Microsoft you can see that there is statistical data that shows that they are in a monopoly. This data is seen by their power in the computer industry and their dominance over other computer companies. They need to make a decision based upon this accusation about how to regulate their future business policies. We can use research methods in order to reach a conclusion about what the company can do in order to better satisfy its customers and competitors. One way of doing this is to follow a customer survey where random people are selected and questioned about the monopolistic practices evident in Microsoft. This would help Microsoft use probability concepts to...
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