Please make sure your answer is 100% authentic, I do use multiple plagiarism checkers. For the first part, there are 3 questions but the directions say to only respond to 1 of them. If the last question is chosen, there is an attachment that goes along with it. For the last question simply watch the video and answer the question. So essentially there are 2 questions here.
“Playing Games with Probability” Please respond to one of the following items for the discussion board this week.
- Use the Internet to research the basic lottery system in your state. For example, the state of Ohio has a Pick 5 game where a customer selects 5 single-digit numbers (0-9). Each number can be selected again meaning 9-9-9-9-9 is a possible winner. Determine the probability of winning your state’s lottery game. (My state is Arkansas). Provide a rationale to support your determination.
- What method of assigning probability (relative frequency, classical, or subjective) discussed in Week 4 do you feel is the most appropriate to use and why? To demonstrate your understanding, please provide an example that is not found in your text.
- Read the attached document to see how probability values are used by managers to make business decisions. The entire problem is worked out from start to finish and should help you in your understanding of how probability can be used in a real-world situation.
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 a life experience, then think of a product/issue where this process could be applied. Please explain your answer.
“A Rotten Apple?” Please respond to the following:
Watch the following 2013 Bloomberg’s video:
Based on the video, fast forward to current day and give your opinion on whether or not Apple’s product strategy should change given its current rate of success and potential competing companies (i.e. Samsung, etc.) operating within their market. Provide a rationale for your response.