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Lecture Basic statistics for business and economics - Chapter 7: Continuous probability distributions

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The main goals of this chapter are to: List the characteristics of the uniform distribution, compute probabilities by using the uniform distribution, list the characteristics of the normal probability distribution, convert a normal distribution to the standard normal distribution,. | Continuous Probability Distributions Chapter 07 Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin LEARNING OBJECTIVES LO 7-1 List the characteristics of the uniform distribution. LO 7-2 Compute probabilities by using the uniform distribution. LO 7-3 List the characteristics of the normal probability distribution. LO 7-4 Convert a normal distribution to the standard normal distribution. LO 7-5 Find the probability that an observation on a normally distributed random variable is between two values. LO 7-6 Find probabilities using the Empirical Rule. 7- Our learning objectives for of this chapter include understanding the difference between discrete and continuous distributions, learning how to compute the mean and a standard deviation for a uniform distribution and a normal distribution, and how to compute probabilities using these two distributions. We will also learn the characteristics of the normal probability distribution, and calculate Z values. In chapter five we learned about the binomial distribution. In this chapter we will learn how to use the normal probability distribution to approximate the binomial distribution. The Uniform Distribution The uniform probability distribution is perhaps the simplest distribution for a continuous random variable. This distribution is rectangular in shape and is defined by minimum and maximum values. LO 7-1 List the characteristics of the uniform distribution. 7- The Uniform Distribution – Example EXAMPLE Southwest Arizona State University provides bus service to students while they are on campus. A bus arrives at the North Main Street and College Drive stop every 30 minutes between 6 A.M. and 11 P.M. during weekdays. Students arrive at the bus stop at random times. The time that a student waits is uniformly distributed from 0 to 30 minutes. Draw a graph of this distribution. Show that the area of this uniform distribution is 1.00. How long will a student . | Continuous Probability Distributions Chapter 07 Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin LEARNING OBJECTIVES LO 7-1 List the characteristics of the uniform distribution. LO 7-2 Compute probabilities by using the uniform distribution. LO 7-3 List the characteristics of the normal probability distribution. LO 7-4 Convert a normal distribution to the standard normal distribution. LO 7-5 Find the probability that an observation on a normally distributed random variable is between two values. LO 7-6 Find probabilities using the Empirical Rule. 7- Our learning objectives for of this chapter include understanding the difference between discrete and continuous distributions, learning how to compute the mean and a standard deviation for a uniform distribution and a normal distribution, and how to compute probabilities using these two distributions. We will also learn the characteristics of the normal probability distribution, and .

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