Which of the following statements is not true regarding probabilities:
A)probability is the basis for inferential statistics
B)probabilities are subjective measures with limited value in business.
C)probabilities are used to determine the likelihood of certain outcomes
D)probabilities can inform many business decisions.

Question

Quizplus · Accepted Answer

Probabilities are not merely subjective measures with limited value in business; they are objective assessments used to quantify the likelihood of various outcomes and can significantly inform and improve business decisions.

Which of the Following Statements Is Not True Regarding Probabilities