3 When to Use What (1)

3 When to Use What (1) - Dr. Harvey A. Singer School of...

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1 OM 210:  Statistical Analysis for  Management When to Use What? Dr. Harvey A. Singer School of Management George Mason University
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2 When to Use the Uniform Situations with several or many events which are all equally likely to occur. All values of the r.v. have the same chance of occurring. One value is just as likely to occur as any other value. Most appropriate for games of chance. Or situations which can be though of as a game of chance. Useful as a baseline. Given data: N .
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3 Uniform Key Words Use the uniform distribution if any of the following words or phrases are used or can be interpreted: One value is as likely as any other value. All values are equally likely. All values have the same chance of occurring.
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4 When to Use the Binomial Success vs. failure situations. Two mutually exclusive possible outcomes, one of which is a “success” in the context of the situation (or the problem statement and its questions). The "success” is the occurrence of interest in the situation (or problem).
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This note was uploaded on 01/26/2011 for the course OM 210 taught by Professor Singer during the Fall '08 term at George Mason.

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3 When to Use What (1) - Dr. Harvey A. Singer School of...

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