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Discuss probability values that can be used in managerial decision-making to establish a product

After reading the example of where 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 management 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 cant draw on a 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.
This is a discussion board, please read carefully the instruction, I will also be posting the discussion of 2 other students and you have to give your opinion based on what they have written.

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