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Please give an example of when using the probability an event will occur is important to...

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Statistics

Please give an example of when using the probabilityan event will occur is important to decision making. Why?

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probability can be used to aid the decisionmaking process For example suppose were considering launching a new product on the market We conduct a prelaunch questionnaire and 86 out of the 100 questionnaire respondents say that they would buy our product if it was on the market We might translate this into the following probability    See Answer
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