Research one of the formulas in Statistics that we will cover and Project

Research one of the formulas in that we will cover and discuss the relevancy and application to the program - Statistics Project Example Probability can either be experimental of theoretical. The formula for calculating probability is the number of successful outcomes divided by the total number of outcomes in an event. While experimental probability is based on observations from past events or an experiment, theoretical probability relies on expectations due to nature of events (Brockopp and Tolsma, 2003). The relevance of the formula for finding probability is realized in nursing research, evidence based practice and administrative decision making such as determination of best practices. In determining probability of success of a nursing practice, probability helps in making decision on whether a practice should be adopted or not. The probability concept also helps in selection the best out of available practices by offering likelihood of success in each practice. Probability is therefore relevant to the nursing profession because it forms a basis for decision making in selection of nursing practices. It can be applied in any decision making process that is evidence based. This is because it relies on experiments or proved occurrences to offer predictions (Brockopp and Tolsma,

AC PROJECT Essay Example | Topics and Well Written Essays - 500 words

AC PROJECT - Essay Example We have set a budget of $ 132000 for software expenses. The cost includes an allowance that will cater for unexpected costs during writing of different software. Travel expenses will amount to $ 71500. This amount will meet the travel demands of our team as we seek to participate actively in the growth of this company. To cover all the depreciation costs, we will require $255,000. Due to the complexity of the tasks being performed by this department, various unplanned costs are bound to be incurred. To cater for such miscellaneous costs, the department will require $ 110000. We hope that our budget demands will be looked into so that we can have a successful business year this year. The figure below shows an outline of the proposed budget. Our company has been very successful in the recent years. The massive financial support to the sales department has been of great importance. This year, our budgetary expenses are bound to reduce by a small percentage. This is because most companies have already invested in communication software and hence there are few numbers of potential customers. We expect to maintain our past growth rate despite this challenge. To achieve this, we will lower our sales revenue expenses to $4, 500, 000. This amount will be sufficient to help us reach the available customers in the market. The salaries for our staff will amount to a total of 360000. This amount will help us maintain our competent employees and hire more qualified employees if need arises. The nature of our duties demands a lot of travelling. The travel expenses are estimated to amount to $210,500. Compared to the previous years, this amount has been lowered since the numbers of available customers has decreased. The total amount for the proposed budget is $507000. With this budget, we will be able to maintain our growth level and hence move the company to another level of success. The budget outline is presented below. Our division has enjoyed the continued