Module 6

Question 1

Purpose, key features, and example of binomial distribution?

Answer 1

Purpose: Models two possible outcomes (success or failure) over a fixed number of trials.

Key Features:
Fixed number of trials (n).
Independent trials.
Constant probability of success (p) per trial.

Example: Tossing a coin 10 times, counting heads.

Question 2

Purpose, key features, and example of poisson distribution?

Answer 2

Purpose: Models the number of occurrences of an event in a fixed time/space interval.

Key Features:
Events occur independently.
Constant average rate (λ).
Integer count of occurrences (0, 1, 2, etc.).

Example: Number of customers arriving at a bank in an hour.

Question 3

Purpose, key features, and example of normal distribution?

Answer 3

Purpose: A continuous, bell-shaped distribution symmetric around the mean.

Key Features:
Mean (μ) and standard deviation (σ).
68% of values within 1 SD, 95% within 2 SDs, 99.7% within 3 SDs (68-95-99.7 rule).

Example: Heights of individuals in a population.

Question 4

Purpose, key features, and example of exponential distribution?

Answer 4

Purpose: Models the time/space between occurrences of events.

Key Features:
Continuous and non-symmetric.
Related to Poisson (time between occurrences).
Mean and standard deviation are equal.
Always positive values.

Example: Time between customer arrivals at a bank.