answersLogoWhite

0


Best Answer

If a person knows that there is a 70% chance that an antibiotic would work on an infection, this information would drive that choice. If it was 10%, another choice may be looked for.

User Avatar

Wiki User

11y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What are the application of statistics in decision making?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Application of inferential statistics in managerial decision making?

cenus investigation sampling analysis of past trends


What are application of Inferential Statistics in managerial decision making?

census investigation sampling analysis of past trends


What has the author Sidney J Armore written?

Sidney J. Armore has written: 'Elementary statistics and decision making' -- subject(s): Statistical decision, Statistics 'Statistics' -- subject(s): Statistics


How is statistics applied to information technology?

You can apply statistics when examining efficiency, performance, or making prediction. This certainly has application within IT.


Where can you find a solutions manual for MIS Cases Decision Making with Application Software fourth edition?

Where can you find a solutions manual for MIS Cases Decision Making with Application Software 4th edition?


What has the author Morris Hamburg written?

Morris Hamburg has written: 'Basic statistics' -- subject(s): Statistics 'Statistical analysis for decision making' -- subject(s): Statistics, Statistical decision, Statistical methods, Social sciences 'Solutions manual for 'basic statistics''


What is the importance of statistics in accounting?

statistics and accounting both are very similar to each other regarding their uses, because both are tools of decision making. To take decision regarding average, standard and marginal you have to take help from statistics even if you are accountant.


What has the author R C Gulezian written?

R. C. Gulezian has written: 'Statistics for decision making' -- subject(s): Commercial statistics, Social sciences, Statistical methods, Statistics


What has the author Ya-lun Chou written?

Ya-lun Chou has written: 'Probability and statistics for decision making' -- subject(s): Probabilities, Statistical decision, Statistics 'Applied business and economic statistics' -- subject(s): Statistics 'Statistical analysis, with business and economic applications' -- subject(s): Statistics 'Modern business statistics' -- subject(s): Commercial statistics, Economics, Statistical methods, Statistics


Specific application of statistics in Economics?

specifis application of statistics to economics or business


What tolerance can be accepted for normal distribution percentages?

The answer will depend on the consequences of making the wrong decision based on the statistics.


What is the role of mathematics in business management?

role of mathematics and statistics in business decision making