answersLogoWhite

0

Probability is used throughout business to evaluate financial and decision-making risks. Every decision made by management carries some chance for failure, so probabiity analysis is conducted formally ("math") and informally (i.e. "I hope"). Math is the preferred method but requires some advanced training, like college courses. For everyone else theres "I hope I guess right"

User Avatar

Wiki User

17y ago

Still curious? Ask our experts.

Chat with our AI personalities

CoachCoach
Success isn't just about winning—it's about vision, patience, and playing the long game.
Chat with Coach
TaigaTaiga
Every great hero faces trials, and you—yes, YOU—are no exception!
Chat with Taiga
MaxineMaxine
I respect you enough to keep it real.
Chat with Maxine

Add your answer:

Earn +20 pts
Q: How is probability used in business?
Write your answer...
Submit
Still have questions?
magnify glass
imp