This semester we have learned a variety of statistical techniques, and statistics is used in the bus ...

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This semester we have learned a variety of statistical techniques, and statistics is used in the business world in many ways: understanding consumer behavior, identifying patterns and trends in markets, calculating risk and loss for investments using probability, and balancing supply and demand. Choose one of these, or consult the textbook to find another way in which statistics is used in your specific business interest. Using your textbook and the internet as resources, research how one of these processes is done. Write a 2-3 page paper describing the process. Be sure to provide an example, as well as any relevant data representations, and describe in detail any statistical or probabilistic processes that are used.