What Are the Uses of Probability in Business Decision Making?

Answer

Probability in business decision making is mostly used in many companies and the uses of probability in business decision making are; to appraise financial and decision making risk, to develop business performance and relate their information to the industry standard or a competitor.
Q&A Related to "What Are the Uses of Probability in Business..."
Probability is used in business to evaluate financial and decision making risk. Probability is used to improve business performance.
http://wiki.answers.com/Q/What_are_the_advantages_...
1. Find a class on business decision-making that suits your budget and location. You can find courses or training programs in your area lasting anywhere from a weekend to a full two-year
http://www.ehow.com/how_8042489_train-business-dec...
I think certain types of web-based businesses have the greatest potential for scalability, the ability to 'easily' expand or contract (at least, that's my definition) The reason for
http://www.quora.com/What-makes-a-business-concept...
Managerial accounting focuses on decision making. The
http://www.chacha.com/question/which-type-of-accou...
2 Additional Answers
Ask.com Answer for: probability concepts in business decision making
Role of Probability Concepts in Business Decision Making
Decision making is the process where owners and managers review information relating to new opportunities. This function relies on different approaches for evaluating information. Using probability concepts is a statistical approach for making decisions.... More »
Difficulty: Easy
Source: www.ehow.com
The evaluation of various risks and other uncertain factors come into play in business decision making. Probability concepts are an important factor when making these decisions. These concepts are primarily statistical and involve different factors and formulas. They are usually made up of five different steps or subsets. These are an objective, a statistical model, observations and/or constraints, an analysis, and finally a conclusion. All of these factors will help make a final and unbiased business decision.
About -  Privacy -  Careers -  Ask Blog -  Mobile -  Help -  Feedback  -  Sitemap  © 2014 Ask.com