Course #: MGMT650
Course Title: Statistics for Managerial Decision Making
Week 4:
Discrete Probability Distributions and Continuous Probability Distributions: It is very important to
know the difference between discrete and continuous random variables.
There are different distributions
belonging to each category with different calculations and purposes.
Learning Objectives:
1.
What is the difference between discrete and continuous probability distributions, when
would use you one versus the other?
2.
What are the statistics used to describe these probability distributions?
3.
Why would you use a Binomial or Poisson Distribution?
4.
What are the Normal and Standard Normal Distributions?
How do you use each in real
world statistical calculations?
Reading:
Statistics for Probability: Random Variables
http://ocw.mit.edu/courses/political-science/17-872-quantitative-research-in-political-science-and-public-
policy-spring-2004/lecture-notes/intro_sts_p32003.pdf
Continuous Random Variables
https://saylordotorg.github.io/text_introductory-statistics/s09-continuous-random-variables.html
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- Fall '14
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