Write a research that needs a decision making with probabilities?
1) Research statistical data in a business context that requires a decision. Utilize probability concepts to formulate a decision.
2) Write a 700- to 1,050-word paper, explaining your research methods and process for limiting the uncertainty in the decision. Describe the following:
3) Include how you applied concepts to formulate your decision
4) Include appropriate probability concepts and your application to find resulting data to limit uncertainty in this decision.
5) Identify each outcome from your statistical analysis, providing rationale for each.
6) Identify trade-offs between accuracy and precision required by various probability concepts and the effect on your data.
7) Include the decision you made based on statistical data.