Benefits of being able to find the expected value

Reference no: EM13119451

Premutations, Probability, Variance, Data display
Please make examples thorough enough at least 100 words each response.

In your own words what is the difference between permutations and combinations? I need 3 real world examples of where order matters in a choice â?¦.and have to make and 3 examples of choices where order does not matter.

What are some of the benefits of being able to find the expected value of a probability distribution? Give an example of how this could be used your advantage in a business setting.

What can variance and standard deviation tell you about a set of data? How do you know what is an acceptable level of variance for your data? Give an example of a real world situation where you can apply your knowledge of variance and standard deviation.

Why is a normal distribution curve a good way to display data? What are the two main properties that describe the curve and what can you tell by just those two numbers. Give an example of a real world situation where you could use a normal curve to make a decision.

Reference no: EM13119451

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