As a manager of an organization, what probability distribution from this week would you use if you wanted to estimate your annual employee turnover?
Explain why you would use it.
Identify the statistical formulas specifically and what additional data you would need to determine your estimate(s).
Explain why your probability distribution applies.
Discrete:
Discrete:
Binomial – as to when you may use it.
Poisson – as to when you may use it.
Hypergeometric – as to when you may use it.
Continuous:
Uniform – as to when you may use it.
Normal –
Exponential – when you may use it.
Identify the statistical formulas specifically and what additional data you would need to determine your estimate(s).
