Cigarette prices: post a 150- to 225-word (2- to 3-paragraph) explanation of how probability distributions affect management decisions.

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Cigarette prices:

$9.07 / $9.52 / $8.90 / $9.10 / $8.99 / $9.09 / $9.06 / $9.00 / $9.05 / $9.16

Post a 150- to 225-word (2- to 3-paragraph) explanation of how probability distributions affect management decisions.

In your explanation, address the following:Provide your results of the following:

  • Your calculations for your standard deviation
  • The range within which 90% of the prices of cigarettes in your area falls
  • The chances of anyone paying less than 4 dollars for a pack of cigarettes
  • The chances of anyone paying more than 10 dollars for a pack of cigarettes
  • Describe what implications this concept has for management decision making.
  • Explain how you might use information like this in your current work.