Project #36236 - Data Driven statisitcs

Discrete and Continuous Probability Distributions

Task Background: Thus far, you have learned how to collect and describe data as well as finding probabilities of events. This week, you will learn how to take the probabilities and apply them with the use of probability distributions.

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.

Primary Task Requirements:

Within the Discussion Board area, write 300–400 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas:

Subject Business
Due By (Pacific Time) 07/25/2014 01:00 pm
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