Description
Recall the probability distributions that we have covered.
Discrete:
1. Binomial – See Section 4.5 as to when you may use it.
2. Poisson – See Section 4.6 as to when you may use it.
3. Hypergeometric – See Section 4.7 as to when you may use it.
Continuous:
1. Uniform – See Section 5.1 as to when you may use it.
2. Normal – See Section 5.2
3. Exponential – See Section 5.4 as to when you may use it.
Your task for this discussion is as follows:
1. As a manager of an organization, what probability distribution from
this week would you use if you wanted to estimate your annual
employee turnover?
2. Explain why you would use it.
3. Identify the statistical formulas specifically and what additional data
you would need to determine your estimate(s).
4. Explain why your probability distribution applies.
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