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Should you use the Binomial Normal or Poisson distribution if in the past few years an average of 10 businesses closed and I want to find the probability of more than 10 businesses closing next year?
If this is the only information that you have then you must use the Poisson distribution.
What is a random variable in probability theory?
Random Variable in probability theory is defined as follows: Assuming you have variables Xi where i is an integer ie: i=1,2,3.......n a variable Xi is called a random variable iff(if and only iff) and random selection yields a variable Xi for i=1,2.........,n with the same likelihood of appearance. i.e prob(X=Xi)=1/n
What are two requirements for a discrete probability distribution?
Not sure about only two requirements. I would say all of the following:there is a finite (or countably infinite) number of mutually exclusive outcomes possible,the probability of each outcome is a number between 0 and 1,the sum of the probabilities over all possible outcomes is 1.The Poisson distribution, for example, is countably infinite.
What is the probability of not geeting a queen in a well shuffled deck of 52 playing cards?
If only one card is selected the probability is 12/13.If only one card is selected the probability is 12/13.If only one card is selected the probability is 12/13.If only one card is selected the probability is 12/13.
What is the probability of choosing a letter from the word probability?
Since the word "probability" contains only letters, then the probability of choosing a letter from the word "probability" is 1, i.e. it is certain to happen.
