RES710 Week3: Organizations frequently leverage standard deviation measurements to inform a variety of business decisions. For example, financial planners often evaluate the standard deviation of a potential investment to determine its associated risk.
Research the practical applications of standard deviation in your discipline.
Provide a relevant example from your discipline that demonstrates how standard deviation might be used to inform organizational processes or decisions. Be sure to include:
- an applied example of an organizational process or decision that could be influenced by calculating the standard deviation; and
- the data sources that would be used in the statistical measurement.
Explain how you would justify the use of evidence to inform a new process or business decision to the stakeholder in your organization.
Post your original response by Day 4.
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