### Applications of probability in business decisions

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In what situations might you use probability as a manager to approach business-related problems? What are the advantages to using probability concepts in business decisions? Are there any disadvantages or possible pitfalls to avoid in using probability in business?

#### Economic lot order quantity model

What would be the order size for Company A in the given scenario that would minimize total annual cost by using the economic order quantity model?

#### Organizational performance in fortune company

Please help outline and draft a 2,800- to 3,500-word explanation of the affect of technology on organizational performance in a Fortune 500 company or comparable major publi

#### Show that all states of embedded markov chain are transient

Show that all states of the embedded Markov chain are transient. Explain in your own words why your solution to (b) is not in any sense a set of steady-state probabilities.

#### Conduct a hypothesis test on the population mean

Discuss the results of the correlation coefficient and scatter diagram. Conduct a hypothesis test on the population mean for total daily sales to see whether the population m

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The dependent variable is hygiene score in a restaurant in a quarter and grade cards introduction has been shown to improve average grades in mandatory counties and voluntary

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Data collection takes a lot of time. Therefore, it is not worth the time and trouble. What do you think? What are some faster ways to accomplish data collection?

#### Show that an ergodic markov chain with m states

Show that an ergodic Markov chain with M states must contain a cycle with τ M states. Hint: Use ergodicity to show that the smallest cycle cannot contain M states.

#### Solve the linear model

o This is a linear model. If your model needs a different engine, then you need to rethink your approach to the model. Remember, there are no IF, Max, or MIN statements

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