Probability distributions are used to predict various aspects of the business. The normal distribution has wide applications
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Probability distributions are used to predict various aspects of the business. The normal distribution has wide applications in business and can be used to calculate the probability of sales, the number of customers to expect in a given week, employee performance, and operations, to name a few. In cell B2, calculate the probability of selling the exact number of products calculated in cell A2, using the normal distribution function and the mean and sample standard deviation calculated in the prior step.
Related Book For
Business principles and management
ISBN: 978-0538444705
12th edition
Authors: James Burrow, Brad KIleindl, Kenneth Everard
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