The content of the modules:
- Discrete probability distributions
- Binomial distribution
- Continuous probability distributions .
The module Continuous probability distributions covered the basic ideas involved in continuous distributions. In this module, we meet two of the more important continuous distributions: the exponential distribution and the Normal distribution.
The exponential distribution is used for the waiting time until the first event in a random process where events are occurring at a given rate. It is a relatively simple distribution; a random variable having this distribution is necessarily positive, and it is one of the more important distributions among those used for positive random variables.
There is good reason to say that the Normal distribution is the most important distribution of all, principally because of a result known as the central limit theorem, which is covered in the module Applications of differentiation. This distribution is characterised by the well-known 'bell curve'.
In this module, we cover the calculation of probabilities and quantiles associated with the exponential distribution and the Normal distribution. Through examples, we will see how these distributions can be applied to solve practical problems.