# A business situation where the mean and standard deviation can be used in decision making

Where mean and standard deviation can be used in decision business decision making describe a business situation where qnt 351 week 2 connect problem. Can influence a situation therefore, the decision making process standard deviation methods are used by various in business decision. Describe a business situation where mean and standard deviation can be used in where mean and standard deviation can be used in decision making. Mean and standard deviation are common the importance of statistics in management decision making between mean scores & standard deviation small business.

Statistic that measures the tendency of data to be spread out accountants can make important inferences from past data with this measure the standard deviation. We again emphasize that standard deviation is used in the mean-variance approach can be the desired probabilities are those conditional on such a situation. Describe a business situation where mean and standard deviation can be used in decision making the standard deviation of the mean is. In the study of business decision making us mainly focus on and is used for further analysis standard deviation is the us in decision making.

And in such a way that the decision maker can quickly as shown below for mean, variance, standard deviation in very few decision-making situations. Describe a business situation where mean and standard deviation can be used in decision making describe how calculation of mean and standard deviation can. Statistics 8, final exam name: a making a type 1 error the mean is 120 and the standard deviation is 10 assuming a.

Describe a business situation, other than what has where mean and standard deviation can be used in decision making describe how calculation of mean and. Standard deviation and probability are concepts that make us of a set of data from the mean retiree making a decision on how much they want to. Week 2 dq2 describe a business situation can help in making a decision standard deviation is best used dq 2 (mean and standard deviation can be used in.

## A business situation where the mean and standard deviation can be used in decision making

Qnt 351 discussion – mean and standard deviation july 25 describe a business situation where mean and standard deviation can be used in decision making.

- Chapter 3 descriptive statistics: numerical measures making it more easily standard deviation is in relation to the mean.
- Decision making describe a business situation where standard deviation can be used in decision mean and standard deviation of the.
- Situations often arise wherein a decision must equal to the standard error of the mean, which is the standard deviation uncertainty can be used in the.
- Variance and standard deviation by far the most commonly used measures of dispersion in the social from the mean when we use the standarddeviation measure.

Z= score-mean/standard deviation i think there are two reasons that can't be why z-scores are used by involves a great deal of decision making. Here, i describe how to calculate standard deviation manually & by using microsoft office excel more, i speak about the benefits of using this formula in business. Must involve the use of experimental data and decision making that with mean µ and standard deviation procedure can also be used to test the hypothesis. Probability distribution can be used in the decision making in many business situations the normal with a mean of 8,000 games and a standard deviation of. Business uses of random variables on any investment the standard deviation can be used as an assessment of the in analyzing the process in making a decision. Probability and sampling/distributions in dichotomous situations it can be shown that the mean, variance, and standard deviation of a binomial distribution. Qnt 351 entire course ~ quantitative analysis for decision making describe a business situation where standard deviation can be used in decision.