1. Provide an example of a company or organization that embeds business statistics to
inform its business decision makers? How does the company or organization you
selected make decisions on the following areas?

a. Market Research
b. Quality Control
c. Product Planning
d. Personnel Management

2. Within business operations management why is risk evaluation such an important factor
in predicting sales? How does risk evaluation provide intelligence and provide added
value services? Hint: Measured Risk

3. Why are some key benefits of scenario analysishow does it help businesses make
better decisions? Is it a zero-sum game or does the team need to consider a best-case
and worst-case scenario? Hint: economic, geopolitical and technological challenges will
always occur

4. Statistics can be used to inform business decision-makers please provide an example
of how statistical research gives managers the information they need to make informed
decisions? Hint: Business managers analyze statistical data to determine how to
proceed in areas including marketing, financial analysis and accounting.

5. Probability distributions (within business management) can be useful application tool for
analyzing commercial challenges (business issues), specifically those that involve
uncertainty or risk behavior. Give an example of how probability distribution is used to
understand and solve business challenges. Hint: Manufacturing, Labor and good

Extra Credit -BONUS:
As we discussed, we know that a sales forecast is an estimate of the quantity of goods and
services that business can realistically sell over a forecasted periodwhat needs to happen to
make these predications? What else needs to be considered (or accounted for) in order to make
timely and appropriate sales forecast decision?

Directions:
Please make sure you use APA guidelines for all your formatting and citations.  Your
technical paper submission should be a minimum 3-4 pages Word document but not
longer than 5 pages double-spaced: Times New Roman font, 12-pt font.  Title page and
the reference page are required.