Probability Concepts and Appliations

Probability Concepts and Applications

Answer the following questions
  1. Describe the rationale for utilizing probability concepts. Is there more than one type of probability? If so, describe the different types of probability.
  2. Briefly discuss probability distributions. What is a normal distribution? Please provide a written example of how ‘understanding distribution’ can be an asset for any business project.

Your paper should reflect scholarly writing and current APA standards. Please include citations to support your ideas.

Grading Criteria Assignments Maximum Points
Meets or exceeds established assignment criteria 40
Demonstrates an understanding of lesson concepts 20
Clearly presents well-reasoned ideas and concepts 30
Mechanics, punctuation, sentence structure, spelling, APA formatting. 10
Total 100