EC255 Chapter Notes - Chapter 6: Probability Distribution, Poisson Distribution, Exponential Distribution
Document Summary
Ec255 chapters 5 & 6: uniform, poisson, and exponential distributions. A discrete random variable assumes countable number of values. The probability of each individual value is not zero. For example, for a binomial random variable, it"s meaningful to talk about p(x=5) A continuous random variable assume an uncountable number of values. The probability of each individual value is technically 0. Probability of exactly 5 minutes is technically 0. We can only determine the probability of a range of values. Equal probabilities for all possible outcomes of the random f (x) = The amount of gas sold daily at a service station is uniformly distributed, with a min. of 2000 gallons, and a max. of 5000 galloons. Find the probability that daily sales will fall between 2500 and 3000 only variable galloons. Find the probability that sales will be at least 4000 gallons. Uniform distribution mean and standard deviation m= a+b.
