Analytical Probability Distributions Harvard Case Solution & Analysis

This note presents four analytical distributions and key uncertainties processes of which they can be obtained. This shows that when we can build a reasonable model uncertain process, we can use the model to derive a probability distribution with the fundamental principles and give up the routine assessment of subjective evaluation of distribution quantiles. Discusses the binomial probability distributions, normal, Poisson and exponential. Related Processes covered include counting, accumulation, Poisson, and without memory. The note stressed that, although the probability distribution has many legitimate applications, they are applicable only under certain assumptions about the underlying processes are satisfied - that is, when an indefinite number is obtained from a process similar to that used to drive the probability distribution of the first .
This Darden study. "Hide
by Dana Clyman Source: Darden School of Business 31 pages. Publication Date: February 5, 2008. Prod. #: UV0923-PDF-ENG

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