SCM CH 5-7 Flashcards
discrete prob distribution
a listing of all the outcomes of an experiment and the prob associated with each outcome
mutually exclusive outcome
can’t be two things at once
ex: coin is either heads or tails
expected value=
mean
expected value formula
X times P(X)
how many possible outcomes for binomial prob
2 possible outcomes
poisson distribution
is useful for calculating the prob that a certain number of events will occur over a specific interval of time or space (# of customers per hour)
normal distribution
- curve is symmetrical
- use chart to find z-score
- measured by the area under the curve
uniform distribution
rectangular in shape and is defined by min and max values
stratified random sampling
category
cluster sampling
location
systematic random sampling
Kth—N/n
if n/N is greater than 5% use
the finite correction formula
how do you know when to use normal distribution in a question?
it will say “normally distributed”
-use z-score chart
how do you know when to use poisson distribution
it will be a ratio question
-use poisson chart
how do you know it is a uniform distribution question
it will say “uniformly distributed”
