Probability Concepts and Applications

Quantitative Analysis: Week 1
Probability Concepts and Applications

Answer the following questions:

  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.

Your paper should reflect scholarly writing and current APA standards. Please include citations to support your ideas.

Quantitative Analysis: Week 2
Regression Models

Answer the following questions in 1 to 2 pages:

  1. What benefit does a variable provide when developing and examining models?
  2. Explain the purpose of simple linear regression and scatter diagrams. Please provide a simple linear regression model and define each variable used.
  3. Describe multiple regression model analysis and discuss potential uses for this model.

Your paper should reflect scholarly writing and current APA standards. Please include citations to support your ideas.

 

Quantitative Analysis: Week 3

Inventory Control Models

Answer the following questions:

  1. Discuss the importance of inventory control with respect to supply and demand.
  2. What benefit can tools such as ABC analysis and just-in-time controls provide for an organization?
  3. How can an enterprise resource planning system assist a firm with improving its business operations?

Your paper should reflect scholarly writing and current APA standards. Please include citations to support your ideas.

 

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