Explain at least one way that statistics can be used by an organization or a professional in a business context.

Explain at least one way that statistics can be used by an organization or a professional in a business context. Additionally, explain how statistics can be used in another context, such as in education, in the community, or in recreational activities. Your response should be 75–150 words (1–2 paragraphs).Be sure to reference at least one scholarly source to support your answer.

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consider doing a market research study to forecast demand for the office units prior to beginning construction.

Dante Development Corporation is considering bidding on a contract for a new office building complex. Figure 4.17 shows the decision tree prepared by one of Dante’s analysts. At node 1,….

Test the claim that there is a difference in times between two trials.

Mental measurements of young children are often made by giving them blocks and telling them to build a tower as tall as possible. One experiment of block building was repeated….

 Identify the distribution of X—name and parameter(s).

1. When local calls are made in NYC, 60% go through on the first try, and the rest get a busy signal. (We assume there is no third possibility). Let….