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    Business Statistics: Types of Probability Distributions For Random Variables

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    ikki123123
    The document discusses several common probability distributions including binomial, hypergeometric, and Poisson distributions. For binomial distributions, it provides the characteristics of a Bernoulli process and an example calculation. It also gives overviews of the hypergeometric distribution and Poisson distribution, including their experimental properties and distribution formulas.

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    Business Statistics: Types of Probability Distributions For Random Variables

    Uploaded by

    ikki123123
    17 views19 pages
    The document discusses several common probability distributions including binomial, hypergeometric, and Poisson distributions. For binomial distributions, it provides the characteristics of a Bernoulli process and an example calculation. It also gives overviews of the hypergeometric distribution and Poisson distribution, including their experimental properties and distribution formulas.

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    Business Statistics 4

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    The document discusses several common probability distributions including binomial, hypergeometric, and Poisson distributions. For binomial distributions, it provides the characteristics of a Bernoulli process and an example calculation. It also gives overviews of the hypergeometric distribution and Poisson distribution, including their experimental properties and distribution formulas.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    17 views19 pages

    Business Statistics: Types of Probability Distributions For Random Variables

    Uploaded by

    ikki123123
    The document discusses several common probability distributions including binomial, hypergeometric, and Poisson distributions. For binomial distributions, it provides the characteristics of a Bernoulli process and an example calculation. It also gives overviews of the hypergeometric distribution and Poisson distribution, including their experimental properties and distribution formulas.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 19

    Business

    TypesStatistics
    of Probability Distributions For
    Random Variables
    Ikram-E-Khuda
    • Discrete Probability Distributions
    • Binomial Distributions
    • Hypergeometric Distributions
    • Poisson Distributions
    • Negative Binomial
    • Geometric Distributions
    • Continuous Probability Distributions
    • Normal and Standard Normal Distributions
    • T and F Distributions
    • Exponential Distributions
    Binomial Random Variable and
    Distribution
    Binomial
    Distributions
    • These are the distributions used to define a special class of random processes called Bernoulli
    processes

    • The probability of obtaining specific outcomes in a Bernoulli process is described by the binomial
    probability distribution

    • In order to be a Bernoulli process as experiment must have the following characteristics:


    Binomial
    Distributions
    Binomial
    Distributions
    Binomial
    Distributions
    Example- Binomial
    Distribution
    MSA Co. is experimenting with the manufacture of a new type of product that is very difficult to
    mass produce at an acceptable quality level. Every hour a supervisor takes a random sample of 5
    produced items from the assembly line. The probability that any one item is defective is considered
    to be 0.15. MSA wants to know the probability of finding 3, 4, or 5 defectives if the true percentage
    defective is 15%.

    Is it a Bernoulli process? How? Find the


    required probabilities.
    Find the statistics of process: mean and
    standard deviation.
    Example- Binomial
    Distribution
    Solution
    Hypergeometric random Variable
    and Distribution
    Hypergeometric
    Experiment
    A hypergeometric experiment is a statistical experiment that has the
    following properties:

    • A sample of size n is randomly selected without replacement from


    a population of N items.

    • In the population, K items can be classified as successes, and N - K items


    can be classified as failures.

    • In the sample, k items can be classified as successes, and n - k items can be


    classified as failures.
    Hypergeometric vs. Binomial
    Experiment
    Hypergeometric
    Distribution
    Example- Hypergeometric
    Distribution
    Poisson Random Variable and
    Distribution
    Poisson Random
    A Poisson experimentExperiment
    is a statistical experiment that has the following properties:
    • The experiment results in outcomes that can be classified as successes or failures.

    • The average number of successes (μ) that occurs in a specified region is known.

    • The probability that a success will occur is proportional to the size of the region.

    • The probability that a success will occur in an extremely small region is virtually zero.

    • Note that the specified region could take many forms. For instance, it could be a
    length, an area, a volume, a period of time, etc.
    Poisson Random
    Variable
    • A Poisson random variable is the number of successes that result
    from a Poisson experiment. The probability distribution of a Poisson
    random variable is called a Poisson distribution.

    • Given the mean number of successes (μ) that occur in a specified


    region, we can compute the Poisson probability based on the
    following formula:
    Poisson
    Distribution
    Example-Poisson
    Distribution

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