6-1 Chapter 6 Discrete Distributions Probability Models Discrete Distributions Uniform Distribution Bernoulli Distribution Binomial Distribution Poisson Distribution McGraw-Hill/Irwin © 2008 The McGraw-Hill Companies, Inc. All rights reserved. 6-3 Probability Models Probability Models • A random (or stochastic) process is a repeatable random experiment. • For example, each call arriving at the L.L. Bean order center is a random experiment in which the variable of interest is the amount of the order. • Probability can be used to analyze random (or stochastic) processes and to understand business processes. 6-4 Discrete Distributions Random Variables • A random variable is a function or rule that assigns a numerical value to each outcome in the sample space of a random experiment. • Nomenclature: - Capital letters are used to represent random variables (e.g., X, Y). - Lower case letters are used to represent values of the random variable (e.g., x, y). • A discrete random variable has a countable number of distinct values. 6-5 Discrete Distributions Probability Distributions • A discrete probability distribution assigns a probability to each value of a discrete random variable X. • To be a valid probability, each probability must be between 0 P(x ) 1 i • and the sum of all the probabilities for the values of X must be equal to unity. n P( x ) 1 i 1 i 6-6 Discrete Distributions Example: Coin Flips When you flip a coin three times, the sample space has eight equally likely simple events. They are: 1st Toss H H H H T T T T 2nd Toss H H T T H H T T 3rd Toss H T H T H T H T 6-7 Discrete Distributions Example: Coin Flips If X is the number of heads, then X is a random variable whose probability distribution is as follows: Possible Events TTT HTT, THT, TTH HHT, HTH, THH HHH Total x 0 1 2 3 P(x) 1/8 3/8 3/8 1/8 1 6-8 Discrete Distributions Example: Coin Flips Note also that a discrete probability distribution is defined only at specific points on the X-axis. 0.40 0.35 0.30 Probability Note that the values of X need not be equally likely. However, they must sum to unity. 0.25 0.20 0.15 0.10 0.05 0.00 0 1 2 Num ber of Heads (X) 3 6-9 Discrete Distributions Expected Value • The expected value E(X) of a discrete random variable is the sum of all X-values weighted by their respective probabilities. • If there are n distinct values of X, n E ( X ) xi P( xi ) i 1 • The E(X) is a measure of central tendency. 6-10 Discrete Distributions Example: Service Calls The probability distribution of emergency service calls on Sunday by Ace Appliance Repair is: x P(x) 0 0.05 1 0.10 2 0.30 3 0.25 4 0.20 5 0.10 Total 1.00 What is the average or expected number of service calls? 6-11 Discrete Distributions Example: Service Calls First calculate xiP(xi): x P(x) xP(x) 0 0.05 0.00 1 0.10 0.10 2 0.30 0.60 3 0.25 0.75 4 0.20 0.80 5 0.10 0.50 Total 1.00 2.75 The sum of the xP(x) column is the expected value or mean of the discrete distribution. 5 E ( X ) xi P( xi ) i 1 6-12 Discrete Distributions Example: Service Calls This particular probability distribution is not symmetric around the mean = 2.75. 0.30 Probability 0.25 0.20 0.15 0.10 0.05 0.00 0 1 2 3 = 2.75 Num ber of Service Calls 4 5 However, the mean is still the balancing point, or fulcrum. Because E(X) is an average, it does not have to be an observable point. 6-13 Discrete Distributions Application: Life Insurance • Expected value is the basis of life insurance. • For example, what is the probability that a 30-yearold white female will die within the next year? • Based on mortality statistics, the probability is .00059 and the probability of living another year is 1 - .00059 = .99941. • What premium should a life insurance company charge to break even on a $500,000 1-year term policy? 6-14 Discrete Distributions Application: Life Insurance Let X be the amount paid by the company to settle the policy. Event x P(x) xP(x) The total expected Live 0 .99941 0.00 payout is Die Total 500,000 .00059 295.00 1.00000 295.00 Source: Centers for Disease Control and Prevention, National Vital Statistics Reports, 47, no. 28 (1999). So, the premium should be $295 plus whatever return the company needs to cover administrative overhead and profit. 6-15 Discrete Distributions Application: Raffle Tickets • Expected value can be applied to raffles and lotteries. • If it costs $2 to buy a ticket in a raffle to win a new car worth $55,000 and 29,346 raffle tickets are sold, what is the expected value of a raffle ticket? • If you buy 1 ticket, what is the chance you will 1 win = 29,346 29,345 lose = 29,346 6-16 Discrete Distributions Application: Raffle Tickets • Now, calculate the E(X): E(X) = (value if you win)P(win) + (value if you lose)P(lose) = (55,000) 1 + (0) 29,345 29,346 29,346 = (55,000)(.000034076) + (0)(.999965924) = $1.87 • The raffle ticket is actually worth $1.87. Is it worth spending $2.00 for it? 6-17 Discrete Distributions Variance and Standard Deviation • If there are n distinct values of X, then the variance of a discrete random variable is: n V ( X ) s2 [ xi ]2 P( xi ) i 1 • The variance is a weighted average of the dispersion about the mean and is denoted either as s2 or V(X). • The standard deviation is the square root of the variance and is denoted s. 2 s s V (X ) 6-18 Discrete Distributions Example: Bed and Breakfast The Bay Street Inn is a 7-room bed-and-breakfast in Santa Theresa, Ca. The probability distribution of room rentals during February is: x P(x) 0 0.05 1 0.05 2 0.06 3 0.10 4 0.13 5 0.20 6 0.15 7 0.26 Total 1.00 6-19 Discrete Distributions Example: Bed and Breakfast First find the expected value 7 E ( X ) xi P( xi ) i 1 = 4.71 rooms x P(x) x P(x) 0 0.05 0.00 1 0.05 0.05 2 0.06 0.12 3 0.10 0.30 4 0.13 0.52 5 0.20 1.00 6 0.15 0.90 7 0.26 1.82 1.00 = 4.71 Total 6-20 Discrete Distributions Example: Bed and Breakfast2 7 V ( X ) s [ xi ]2 P( xi ) The E(X) is then used to find x the variance: 0 P(x) x P(x) [x]2 [x]2 P(x) 0.05 0.00 22.1841 1.109205 1 0.05 0.05 13.7641 0.688205 2 0.06 0.12 7.3441 0.440646 3 0.10 0.30 2.9241 0.292410 4 0.13 0.52 0.5041 0.065533 5 0.20 1.00 0.0841 0.016820 6 0.15 0.90 1.6641 0.249615 7 0.26 1.82 5.2441 1.363466 1.00 = 4.71 = 4.2259 rooms2 The standard deviation is: s = 4.2259 = 2.0577 rooms Total i 1 s2 = 4.225900 6-21 Discrete Distributions Example: Bed and Breakfast The histogram shows that the distribution is skewed to the left and bimodal. 0.30 The mode is 7 rooms rented but the average is only 4.71 room rentals. Probability 0.25 0.20 0.15 0.10 0.05 0.00 0 1 2 3 4 5 6 7 Num ber of Room s Rented s = 2.06 indicates considerable variation around . 6-22 Uniform Distribution Characteristics of the Uniform Distribution • The uniform distribution describes a random variable with a finite number of integer values from a to b (the only two parameters). • Each value of the random variable is equally likely to occur. • Consider the following summary of the uniform distribution: 6-23 Uniform Distribution Parameters PDF Range Mean Std. Dev. a = lower limit b = upper limit 1 b a 1 axb P( x) ab 2 (b a) 12 1 12 Random data generation in Excel Comments =a+INT((b-a+1)*RAND()) Used as a benchmark, to generate random integers, or to create other distributions. 6-24 Uniform Distribution Example: Rolling a Die 0.18 1.00 0.16 0.90 0.14 0.80 0.70 0.12 Probability Probability • The number of dots on the roll of a die form a uniform random variable with six equally likely integer values: 1, 2, 3, 4, 5, 6 • What is the probability of rolling any of these? 0.10 0.08 0.06 0.60 0.50 0.40 0.30 0.04 0.20 0.02 0.10 0.00 0.00 1 2 3 4 5 Num ber of Dots Show ing on the Die PDF for one die 6 1 2 3 4 5 Num ber of Dots Show ing on the Die CDF for one die 6 6-25 Uniform Distribution Example: Rolling a Die 1 1 1 • The PDF for all x is: P( x) b a 1 6 1 1 6 • Calculate the mean as: a b 1 6 3.5 2 2 • Calculate the standard deviation as: (b a) 1 1 2 12 (6 1) 1 1 2 12 1.708 6-26 Uniform Distribution Application: Pumping Gas On a gas pump, the last two digits (pennies) displayed will be a uniform random integer (assuming the pump stops automatically). 0.012 1.000 0.900 0.010 0.800 0.700 0.008 0.600 0.006 0.500 0.400 0.004 0.300 0.200 0.002 0.100 0.000 0.000 0 10 20 30 40 50 60 Pennies Digits on Pum p 70 80 90 0 10 20 30 40 50 60 Pennies Digits on Pum p PDF CDF The parameters are: a = 00 and b = 99 70 80 90 6-27 Uniform Distribution Application: Pumping Gas • The PDF for all x is: 1 1 1 P( x) .010 b a 1 99 0 1 100 • Calculate the mean as: a b 0 99 49.5 2 2 • Calculate the standard deviation as: (b a) 12 1 (99 0) 12 1 28.87 12 12 6-28 Bernoulli Distribution Bernoulli Experiments • A random experiment with only 2 outcomes is a Bernoulli experiment. • One outcome is arbitrarily labeled a “success” (denoted X = 1) and the other a “failure” (denoted X = 0). p is the P(success), 1 – p is the P(failure). • “Success” is usually defined as the less likely outcome so that p < .5 for convenience. • Note that P(0) + P(1) = (1 – p) + p = 1 and 0 < p < 1. 6-29 Bernoulli Distribution Bernoulli Experiments Consider the following Bernoulli experiments: Bernoulli Experiment Possible Outcomes Probability of “Success” Flip a coin 1 = heads 0 = tails p = .50 Inspect a jet turbine blade 1 = crack found 0 = no crack found p = .001 Purchase a tank of gas 1 = pay by credit card 0 = do not pay by credit card p = .78 Do a mammogram test 1 = positive test 0 = negative test p = .0004 6-30 Bernoulli Distribution Bernoulli Experiments • The expected value (mean) of a Bernoulli experiment is2 calculated as: E ( X ) x i P( xi ) (0)(1 p) (1)(p) p i 1 • The variance of a Bernoulli experiment is calculated as: 2 V ( X ) xi E ( X ) P( xi ) (0 p)2 (1 p) (1 p)2 (p) p(1 p) 2 i 1 • The mean and variance are useful in developing the next model. 6-31 Binomial Distribution Characteristics of the Binomial Distribution • The binomial distribution arises when a Bernoulli experiment is repeated n times. • Each Bernoulli trial is independent so the probability of success p remains constant on each trial. • In a binomial experiment, we are interested in X = number of successes in n trials. So, X = x1 + x2 + ... + xn • The probability of a particular number of successes P(X) is determined by parameters n and p. 6-32 Binomial Distribution Characteristics of the Binomial Distribution • The mean of a binomial distribution is found by adding the means for each of the n Bernoulli independent events: p + p + … + p = np • The variance of a binomial distribution is found by adding the variances for each of the n Bernoulli independent events: p(1-p)+ p(1-p) + … + p(1-p) = np(1-p) • The standard deviation is np(1-p) 6-33 Binomial Distribution Parameters PDF n = number of trials p = probability of success P ( x) n! p x (1 p) n x x !(n x)! Excel function =BINOMDIST(k,n,p,0) Range X = 0, 1, 2, . . ., n Mean np Std. Dev. np(1 p) Random data generation in Excel Sum n values of =1+INT(2*RAND()) or use Excel’s Tools | Data Analysis Comments Skewed right if p < .50, skewed left if p > .50, and symmetric if p = .50. 6-34 Binomial Distribution Application: Uninsured Patients • On average, 20% of the emergency room patients at Greenwood General Hospital lack health insurance. • In a random sample of 4 patients, what is the probability that at least 2 will be uninsured? • X = number of uninsured patients (“success”) • P(uninsured) = p = 20% or .20 • P(insured) = 1 – p = 1 – .20 = .80 • n = 4 patients • The range is X = 0, 1, 2, 3, 4 patients. 6-35 Binomial Distribution Application: Uninsured Patients • What is the mean and standard deviation of this binomial distribution? Mean = = np = (4)(.20) = 0.8 patients Standard deviation = s = np(1 p) = 4(.20(1-.20) = 0.8 patients