Unit 4: Discrete Probability Distributions
You received a check from Aunt Matilda for your birthday, and you want to go to the bank to deposit it during your 45-minute lunch break. You know that it takes you 10 minutes to drive to the bank and 10 minutes to get back to school. You know that sometimes there is no waiting line at the bank and sometimes there is a really long line, and you might drive all the way there and find out that you don't have time to wait in line before it's time to go back to school. Your knowledge of probability distributions and expected values from this unit will help you make the statistically optimal decision.
Probability distributions give us condensed information about possible outcomes of both mathematical and practical situations. Probability distributions aid us in making sound decisions about waiting in line, buying raffle tickets, and taking prescription medications.
The binomial distribution is one type of probability distribution that has a myriad of applications. What guessing strategy should I use on the SAT? Will I get into the college I want, or won't I? What are the chances that the football team will win every one of its home games this season? These types of situations lend themselves to an analysis of the underlying binomial distribution. You might be surprised at the answers!
Completing this unit should take you approximately 11 hours.
- Receive a grade