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 life experience, then think of a product/issue where this process could be applied.
Please explain your answer. Remember to cite your resources and use your own words in your explanation.
Chapter 23 Discussion (BUS2123 Principles of Accounting II)
Top of Form
- Define standard costs and explain how standard cost information is useful for management by exception.
- Describe variances and what they reveal about performance.
Unit 4 Discussion: Compare & Contrast Models of Service Delivery (HSV101 Introduction to Human Services)