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Probability File 4 August 19
Probability File 4 August 19
A Poisson distribution is a tool that helps to predict the probability of certain events A textbook store rents an
happening when you know how often the event has occurred. It gives us the probability of a can predict the probabilit
given number of events happening in a fixed interval of time. Saturday nights. Another e
the average number of di
Calculating the Poisson Distribution certain day having more cu
The Poisson Distribution pmf is: P(x; μ) = (e-μ * μx) / x! Because of this applic
make forecasts about the
year. In business, overstoc
Likewise, having too few stocks would still mean a lost business opportunity because you
were not able to maximize your sales due to a shortage of stock. By using this tool,
businessmen are able to estimate the time when demand is unusually higher, so they can
tribution/poisson-distribution/
purchase more stock. Hotels and restaurants could prepare for an influx of customers, they
es%20is%20%C2%B5%2C%20etc.
could hire extra temporary workers in advance, purchase more supplies, or make contingency
plans just in case they cannot accommodate their guests coming to the area.
With the Poisson distribution, companies can adjust supply to demand in order to keep their
business earning good profit. In addition, waste of resources is prevented.
a)
X= 1
λ= 4.5
P( X = 1) = 0.04999
0.04999
Answer = 0.6577
more cases) = P( X >= 4) d)
y principle P(X = 0) + …..... P( X = n) = 1 Mean number = λ = 4.5
Standard deviation = 2.12132
λ= 17
Source: https://www.investopedia.com/terms/n/normaldistribution.asp
1 Values to the left of -1.4 P( Z < -1.4)
Answer 0.08076
The heights are approximately normally distributed, with mean 38.72 inches and standard deviation 3.17 inches.
1) Use the normal model to determine the proportion of the 3-year-old females that have a height less than 35 inches.
2) Compute the probability that a randomly selected 3-year-old female is between 35 and 40 inches tall, inclusive.
ation 3.17 inches.