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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