Question

Importance of probability in business decision-making

Answer 1

ANSWER
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1. DUE TO THESE THE MANY BUSINESS IS APPLY THE I UNDERSTAND OF THE PROBABILITY IN THE BUSINESS

Answer 2

Answer:

Explanation:

Probability in Business:

Probability is a metric for determining the probability of future events with unknown outcomes (event).

Probability's Importance in Business Decision-Making

Most of the organizations make decisions based on their knowledge of uncertainty and probability. Probability models can be extremely beneficial to businesses in terms of optimizing policies and making sound judgments. Despite their complexity, these probability strategies can help a company's profitability and success.

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