Question:Using your textbook (look at some of the business examples that are illustrated), LIRN, JSTOR.org, and the Internet, develop an 7th edition APA formatted paper that defines and presents an analysis of the following concepts in a business application. This means that you must provide examples of how each of these concepts can be used by upper-level management to make strategic decisions, and provide details on how statistical concepts used in the decision-making process can be summarized and presented to a board of directors (for example).:Types of statistics used for businessHow Computer Software Applications can be used to process and analyze dataHow data can be displayed and explored in an effort to make better strategic business decisionsHow Probability is used in sales, marketing, manufacturing, and so forth.How to test hypotheses and compare results for the purpose of forecasting and making better strategic business decisions.Develop a hypothetical numerical example, conduct a test of hypotheses, and interpret the results.Note:1. At least 5-6 pages2. Paper needs to be formatted in APA 7th edition3. Need to pick a company and stick with it to write in the paper4. Include the formulas or images if needed with the citation from textbook (need to include page numbers)5. Need to have at least 7 peer-reviewed articles as the references (Recommend to find the articles from proquest.6. Need to include textbook as the references.7. Please find the textbook and class PPTs in the attachment section.