Solution-Creating a probability distribution

Creating a probability distribution

Reference no: EM131214226

Why is it important to understand whether the data is discrete or continuous?

Why is it "important to understand which type of data you are dealing with in each situation"?

Is continuous data considered "categorical" data?

Suppose you are a manager in a department store and you are creating a probability distribution for shoe sales. Your store stocks the standard shoe sizes -- 6, 6 1/2, 7, 7 1/2, etc. Would you need to create a discrete probability distribution or a continuous probability distribution?

Reference no: EM131214226

Questions Cloud

Create new earbud headphones : A manufacturing firm has recently opened up a plant to create new earbud headphones. If the length of the cord is normally distributed with a mean of 80 cm and standard deviation of 1.1 cm, what is the probability that

Between-treatments estimate of variance : Explain the difference between the "Between-Treatments Estimate of Variance and the Within-Treatments Estimate of Variance. Why do we need two estimates? Wouldn't one estimate suffice?

Explain eai scores and what that means for professionally : Explain the importance of understanding your personal ethical perspective. Analyze the relationship between personal and professional ethics in psychology.

In what ways your organization use supply chain management : In what ways could your organization use its supply chain management system to support above-the-line initiatives? In what ways could your organization use its supply chain management system to support below-the-line initiatives?

Creating a probability distribution : Suppose you are a manager in a department store and you are creating a probability distribution for shoe sales. Your store stocks the standard shoe sizes -- 6, 6 1/2, 7, 7 1/2, etc. Would you need to create a discrete probability distribution or a..

Create use case diagrams and descriptions for the user views : Read the the Perfect Pets case study described in Appendix B and undertake the following tasks.

Probability distribution for shoe sales : Suppose you are a manager in a department store and you are creating a probability distribution for shoe sales. Your store stocks the standard shoe sizes -- 6, 6 1/2, 7, 7 1/2, etc. Would you need to create a discrete probability distribution or a..

Describe each fact-finding technique and identify it : The five most commonly used fact-finding techniques are examining documentation, interviewing, observing the organization in operation, conducting secondary research, and using questionnaires. Describe each fact-finding technique and identify the ..

Identify three issues relevant to the field of psychology : Your three to four page paper should summarize the details of the case and identify three issues relevant to the field of psychology. In the Weston situation examples of two such questions might be, what potential conflicts of interest might aris..

User Account

All Pages

Creating a probability distribution

Reference no: EM131214226

Reference no: EM131214226

Questions Cloud

Reviews

Write a Review

Finance Basics Questions & Answers

Financial reporting and analysis

A report on financial accounting

Describe the types of financial ratios

Differences between sole proprietorship and corporation

Prepare a cash budget statement

What are the implied interest rates

State pricing theory and no-arbitrage pricing theory

Small business administration

Effect of financial leverage

Evaluate the basis for the payment to the lender

Importance of opps, ipps, mpfs and dmepos

Time value of money

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT