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QNT 561 Week 1 Discussion Questions
This work of QNT 561 Week 1 Discussion Questions shows the solutions to the following problems:
DQ 1: Why is using Bayes’ theorem important to help answer businessrelated questions? What does this theorem allow you to do that traditional statistics do not? What are some prerequisites for using Bayesian statistics?
DQ 2: As a manager, what are some benefits of applying probability concepts to solve businessrelated problems? Would business decisions suffer without probability concepts? Explain.
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