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Probability Distributions in Decision Making & Monte Carlo Simulation Workshop

Probability Distributions in Decision Making & Monte Carlo Simulation Workshop. Outline/Coverage. Terms for reference Introduction The Uniform Distribution The Triangular Distribution The Normal Distribution Monte Carlo Simulation Overview Monte Carlo Simulation Practice Examples

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447 views • 21 slides

Lesson #8 Introduction to Probability

Lesson #8 Introduction to Probability. Flip a single coin:. S = { T , H }. Or, if we let X = # heads, . S = { 0 , 1 }. P = P(Event) = P(A) =. 0 ? m ? n. 0 ? p ? 1. ?. REMEMBER!. 0 ? p ? 1. S = { TT , TH , HT , HH }. S = { 0 , 1 , 2 }.

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234 views • 17 slides

The Binomial Distribution

The Binomial Distribution. Permutations: . How many different pairs of two items are possible from these four letters: L, M. N, P. L,M L,N L,P M,L M,N M,P N,L N,M N,P P,L P,M P,N. P = # of Permutations N = # of items r = how many taken at a time. Combinations.

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229 views • 9 slides

Statistics and Probability

Statistics and Probability. Mutually Exclusive Events. Outcomes are mutually exclusive if they cannot happen at the same time. Mutually exclusive outcomes.

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1.27k views • 8 slides

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Single coin - PowerPoint PPT Presentation

Probability Distributions in Decision Making &amp; Monte Carlo Simulation Workshop

Lesson #8 Introduction to Probability

The Binomial Distribution

Statistics and Probability

Probability Distributions in Decision Making & Monte Carlo Simulation Workshop