Mathematics Homework Help

I’m working on a statistics discussion question and need an explanation and answer to help me learn.

After reading the example above where one can see how probability values can be used in managerial decision-making to establish a product guarantee, post a comment where you think probability could be used to help solve other management-type questions/problems. Think of something at work, past or present, where you could apply the techniques in the example to assist in making the best decision. If you can’t draw on life experience, then think of a product/issue where this process could be applied.