300 words
Probability distributions are used in many aspects to answer questions about given events. For example, a clothing store owner opens a new boutique and is working on a 3-day forecast of sales during the grand opening of the boutique. The owner determines that there is a 40% probability that customers will visit the store and make a purchase, which means 60% will visit the store and not make a purchase. How do you determine the probability that customers will visit and make a purchase on 0, 1, 2, or 3 of the days? To solve problems such as this, a probability distribution can help you identify the possible outcomes to make a conclusion. In this Discussion Board, you will explore the concepts to help construct discrete and continuous probability distributions.
- It is important to understand the difference between discrete and continuous random variables because the statistical analysis of each type of variable is different.
- In your own words, discuss the differences between discrete and continuous random variables, and provide a real-world example of each type of random variable.
- Perform the following experiment:
- Roll a die 20 times, and record the results of each event in Excel. (Note: If you do not have an actual die, you can find a virtual die-rolling program located at the following Web site:http://www.random.org/dice
- Construct a bar graph and probability distribution of your experiment. Attach your results to your Discussion Board posting.
- Interpret the results of this experiment, answering the following questions:
- What are the random variables for your experiment? Explain the meaning of your random variables.
- Do you believe that the results of your experiment are discrete or continuous? Explain.
- Is your experiment a probability distribution? In other words, are all conditions of a probability distribution satisfied? Explain.
- Is your experiment a binomial probability distribution? Explain if all conditions are met or not
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