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Unformatted text preview: 6 1 Chapter Six Discrete Probability Distributions Discrete Probability Distributions Objectives When you have completed this chapter, you will be able to: ONE Define the terms random variable and probability distribution. TWO Distinguish between a discrete and continuous probability distributions. THREE Calculate the mean, variance, and standard deviation of a discrete probability distribution. 6 2 Chapter Six continued A Survey of Probability Concepts A Survey of Probability Concepts Objectives When you have completed this chapter, you will be able to: FOUR Describe the characteristics and compute probabilities using the binomial probability distribution FIVE Describe the characteristics and compute the probabilities using the Poisson distribution. 6 3 Random Variables Random Variables A random variable is a numerical value determined by the outcome of an experiment. A probability distribution is the listing of all possible outcomes of an experiment and the corresponding probability. 6 4 Types of Probability Distributions Types of Probability Distributions A discrete probability distribution can assume only certain outcomes. A continuous probability distribution can assume an infinite number of values within a given range. 6 5 Types of Probability Distributions Types of Probability Distributions Examples of a discrete distribution are: The number of students in a class. The number of children in a family. The number of cars entering a carwash in a hour. Number of home mortgages approved by Coastal Federal Bank last week. 6 6 Types of Probability Distributions Types of Probability Distributions Examples of a continuous distribution include: The distance students travel to class....
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This note was uploaded on 03/19/2012 for the course MGMT 604 604 taught by Professor Mohamed during the Spring '12 term at Manor.
 Spring '12
 Mohamed

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