BUS 295 Lecture Notes - Lecture 13: Nonprobability Sampling, Standard Deviation, Sampling Frame
Document Summary
The uniform distribution is a probability distribution that has equal probability density for all possible outcomes for the rv, also called rectangular distribution. Often used to model the length of time between two occurrences of an event (time between arrivals). E. g. times between transactions at an atm, lifetime of a lightbulb. Related to poisson distribution: if y is a poisson count in a fixed period of time with mean (lambda), then the time between each event counted has an exponential distribution with mean. It has only a single parameter (lambda), with the probability density function being. The probability that an arrival time is less than some specified time x=x is. Customers arrive at service counter at rate of 15 per hour, what is probability that the arrival time for consecutive customers is less than 3 minutes. Mean number is 15 so lambda is 15. Remember to convert into common unit at minutes and hours.
