Discuss probability distributions

timer Asked: Nov 22nd, 2013

Question Description

  1. Describe the rationale for utilizing probability concepts.  Is there more than one type of probability?  If so, describe the different types of probability.  

  2. Briefly discuss probability distributions.  What is a normal distribution?  Please provide a written example of how 'understanding distribution' can be an asset for any business project.
(Whoever has the best answer will when an award between one to five dollars, depending on the detail you provide!)

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