BU275 Study Guide - Final Guide: Yokohama Rubber Company, Weighted Arithmetic Mean, Decision Analysis
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Uniform: each result has same probability (rolling a single dice) Normal: z is the number of stan dev"s away from the mean = z = value mean / st dev. Triangular: has mode (most likely), max and min. Poisson: a discrete distribution (a count) number of successes in an interval ( ) depends on the success x) p(x rate and the interval length. Exponential: is average time to complete a task, or interval between events. If poisson rate applies, then interval between is exponential. Above formula will give you percentage that the task will be completed within x mins of the average. turn the interval ( ) into a rate ( ) Simulation is the process of designing a mathematical or logical model of a real system and then conducting computer-based experiments with the model to describe, explain, and predict the behavior of the real system.
