MKT 300 Lecture Notes - Lecture 27: Poisson Distribution, Probability Distribution, Standard Deviation
Document Summary
Two parameters, n and p, describe a binominal distribution. Binominal distributions are actually a family of distributions. Every different value of n gives a different binominal distribution as does every different value of p. Mean and standard deviation of a binominal distribution: The value of is determined by np. E. g. if n = 10, p = 4, then = np = (10) (0. 4) = 4. Np = the average number of successes per sample. = np the value of = the square root of npq. Focuses only on the number of discrete occurrences over some interval or continuum. Does not have a given number of trials (n) Often used to describe the number of random arrivals in some time period. It is a discrete distribution possible values are whole numbers. Each occurrence is independent of other occurrences. The expected number of occurrences remain constant throughout the experiment. Lambda ( ) = the mean number of occurrences in the interval.
