Poisson and Normal Distributions Assignment Help

Poisson and Normal Distributions Assignment Help
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Poisson and Normal Distributions Assignment Help

In probabilistic theory and statistics, there are three types of distributions: Normal distribution, Binomial distribution, and Poisson distribution. All these distributions play a very important role in analyzing the data sets, finding out the outcome of the data set, forecasting the business events and for many other purposes.

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Applications of Poisson and Normal Distributions

Poisson distribution is a type of discrete probability distribution which is used to express the probability of a specific number of events that can occur in a fixed period of time. Apart from that, the Poisson distribution is also used on a large number of events in some other specific intervals, for example, it can be an area or volume or distance.

Poisson distribution is highly used in forecasting. In a business scenario, it is very important to keep proper track of stock. Overstocking of products can lead to a loss for a businessman if they are not able to sell the product on time. Similarly, if a businessman keeps few stocks he may lose some business opportunities as they will not be able to maximize their sale due to a shortage of stock. Thus, it is very essential to forecast their sales properly. Poisson distribution helps in determining the correct forecast.

The normal distribution is also called a bell curve distribution and it is a type of distribution that occurs naturally in various types of situation. The normal distribution is a probability distribution which is symmetric about the mean. This type of distribution is mainly motivated by the Central Limit Theorem.

The normal distribution is highly used by the human resource management of a company to determine the performance of the employees. It also helps in determining the risk involved in certain events.

Thus, both the distributions have a significant role in probability theory and statistics.

Problems Normally Faced by Students while Preparing Assignments on Poisson and Normal Distributions

Apart from the proper subject knowledge students also should have a lot of experience in this realm and many other aspects of statistics to make a 100 percent accurate assignment. Generally, it is seen that students face the following common problems while making an assignment:

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