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Complete the following Week One Practice Problems in MyStatLab®:
• Ch. 2 of Statistics for Business and Economics
o 2.37, 2.38, 2.44, 2.46, 2.54, 2.64, 2.68, 2.79, 2.85, 2.89, 2.93, 2.94, 2.106, and 2.108
• Ch. 4 of Statistics for Business and Economics
o 4.1, 4.12, 4.13, 4.21, 4.79, 4.80, 4.81, 4.89, 4.91, 4.106, and 4.124
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Complete the following Week Two Practice Problems in MyStatLab®:
• Ch. 4 of Statistics for Business and Economics
o 4.156, 4.164, 4.169, and 4.172
• Ch. 5 of Statistics for Business and Economics
5.4, 5.8, 5.25, 5.37, 5.41, 5.50, 5.56, 5.75, 5.77, 5.79, and 5.83
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Resource: University of Phoenix Material: A Decision of Uncertainty
Research statistical data in a business context that requires a decision. Use probability concepts to formulate a decision.
Write a 700- to 1,050-word paper explaining your research methods and process for limiting the uncertainty in the decision.
Address the following in your paper:
• Include how you applied concepts to formulate your decision.
• Include appropriate probability concepts and your application to find resulting data to limit uncertainty in this decision.
• Identify each outcome from your statistical analysis, providing rationale for each.
• Identify tradeoffs between accuracy and precision required by various probability concepts and the effect on your data.
• Include the decision you made based on statistical data.
Format your paper consistent with APA guidelines....