Answer:
they are dependent on situational probabilities
Explanation:
Arturo's decision about which torch to purchase is being made under conditions of ambiguity , because: they are dependent on other factors.
The decision making is not certainty because his decision on which torch to buy is dependent on probabilities neither is it uncertain because we have information on probabilities of what the outcome might be.
Hence the decision making is ambiguous because it is between certain and uncertain and its outcome is dependent on the probabilities of having a discount or not.
The answer is true bc businesses depend on consumers buying their product
Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
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The four dimensions of statistical thinking, according to Wild & Pfannkuch are an investigative cycle, styles of thinking, an interrogative cycle, and dispositions. The four dimensions are simultaneously active within the thinker and incorporate both general and specific statistical thinking tendencies. Describe the four statistical reasoning/thinking dimensions that are used in statistical investigation.
* Give and describe a concrete example of how the four-step method was applied in a managerial decision-making process. Please apply the four dimensions of statistical reasoning from Wild and Pfankuch .
* Why is having a representative sample rather than a random sample not more crucial for drawing accurate conclusions about a diverse population?
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