Poisson distribution: Difference between revisions
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A probability model used where discrete events occur in an apparently random manner, subject to an observable average rate. | A probability model used where discrete events occur in an apparently random manner, subject to an observable average rate. | ||
This rate parameter is the only parameter required to specify | |||
For example, the number of business interruptions occurring in a given time period or the number of admissions to a hospital A & E department in a given time period. | This rate parameter is the only parameter required to specify fully the probability distribution function of a Poisson random variable. | ||
For example, the number of business interruptions occurring in a given time period, or the number of admissions to a hospital A & E department in a given time period. | |||
The Poisson distribution can be an appropriate model for processes where: | The Poisson distribution can be an appropriate model for processes where: | ||
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* [[Binomial distribution]] | * [[Binomial distribution]] | ||
* [[Frequency distribution]] | * [[Frequency distribution]] | ||
* [[Parameter]] | |||
* [[Probability]] | * [[Probability]] | ||
[[Category:The_business_context]] | |||
Latest revision as of 23:01, 16 December 2024
Statistics.
A probability model used where discrete events occur in an apparently random manner, subject to an observable average rate.
This rate parameter is the only parameter required to specify fully the probability distribution function of a Poisson random variable.
For example, the number of business interruptions occurring in a given time period, or the number of admissions to a hospital A & E department in a given time period.
The Poisson distribution can be an appropriate model for processes where:
- Continuous observation is needed, rather than a finite number of independent trials.
- The random variable takes a positive whole number (integer) value, with no upper limit.
- The expected number of occurrences is known or can be estimated, and
- Primary interest is in the number of times an event occurs within a particular period.
