While the primary purpose of this assignment is for you to think about and work with statistical concepts, it is important after you complete your writing that you take the time to review and edit it for coherence, completeness, and grammar. You will be looking at each other’s work as a resource for your final two writing assignments. Using a grammar and spelling program such as Grammarly is highly recommended, as excessive grammar errors and incoherent writing will lower your grade. Download and use the CA 2.4 TemplatePreview the document to answer the questions for this assignment. Use ONLY words (no formulas, no equations, and no symbols) to answer the following questions:
Define in your own words what a continuous random variable is? Think of 3-5 things that are continuous variables? Think of 3-5 things that are discrete variables?
What is the probability density function?
What is a cumulative distribution function?
Describe for the distributions below a) What they model? and, b) What the given elements are for each (i.e. event, sample, conditional/independent)? c) Then provide one example from your field* of how they could be applied (you may use sources to aid you but must have more than one, you may not quote them, and you must cite them):
- Normal
- Exponential
- Gamma
- Weibull
- Lognormal
- Beta
Readings
Understanding Random Variables (Links to an external site.)by Seema Singh on Medium.
Probability Distributions: Discrete and Continuous (Links to an external site.)by Seema Singh on Medium.
Beta Distribution — Intuition, Examples, and Derivation: When to use Beta Distribution (Links to an external site.) by Aerin Kim on Medium, Toward Data
Exponential Distribution — Intuition, Derivation, and Applications: When to Use an Exponential Distribution (Links to an external site.) by Aerin Kim on Medium, Toward Data Science
Gamma Distribution — Intuition, Derivation, and Examples: and why does it matter? by Aerin Kim on Medium, Toward Data Science
(Links to an external site.)Predicting Revenue with Gamma Distribution (Links to an external site.)by Michael Kozak on Medium.
Important Distributions in Probability & Statistics (Links to an external site.) by Surabh Raj on Medium. This article addresses Log Normal Distributions.
Weibull Distribution and Weibull Analysis (Links to an external site.) by Stephanie Glen on Statistics