INventory - Appendix 2A: Basic Probability
4 important questions on INventory - Appendix 2A: Basic Probability
Using a Poisson distribution, what are the variance and mean?
The density function in the standard normal distribution can be calculated as on page 101. But it can be calculated quicker using the standard normal table. How?
It can be calculated as: with h being small. So, when using the standard normal table on p.695, you can deduct the correct z-value off the one to the right of it and divide by 0,01.
Give the expected value of X for a discrete random variable X defined from zero to infinity with a probability mass function p.
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The most important function of a random variable, which measures its dispersion or spread, is (X-E[X])². Its expectation is called the variance (σ²). Give an expression of σ².
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