Analytical Probability Distributions with Excel Sherwood C Frey Phillip E Pfeifer 2006
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In an Excel spreadsheet, you can create various probability distributions using the Excel functions and formulas. In this text, you will learn how to create a normal distribution, the Student t-distribution, the hyperbolic distribution, and the inverse Cauchy distribution. The distribution functions you’ll learn are the bell curve, the bell-shaped curve, the normal distribution, the inverse Cauchy distribution, the Student t-distribution, the hyperbolic distribution, and the beta distribution. In Excel, the Normal distribution is represented by its probability density function. This function is the
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Probability distribution refers to the set of all the possible outcomes a random variable can take on under the assumed probability distributions. Probability distributions are used in different fields of scientific, technical, engineering, business, and social life. Probability distributions are useful in different fields of human endeavour. Probability distributions are used to make decisions that affect different areas of human life. A perfect world or perfect situation may exist, but we may not be able to obtain perfect information, as information is limited, imperfect, incomplete, or subjective.
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Excel’s Analytical Probability Distributions with Sherwood Frey & Phillip E Pfeifer (2006) is a great for anyone working with probability distributions, statistical models and related functions. The authors explain how to develop various probability distributions for normal and gamma distributions and use the software to work through calculations in this process. They provide a number of examples, covering various scenarios. For example, in Exercise 4-1 they consider the calculation of standard normal distributions with different values of the mean and dispersion. I recommend
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“As a former high school science teacher, I’ve taught all subjects in algebra (which is math at least as far as I’m concerned) for the past 30 years. I never really liked high school mathematics, mostly because it was just too much algebra and not enough anything else. read more I really wanted to see what was on that blackboard and how it was explained. That’s why I’m excited about this book because it’s designed to help me and my students learn how to see math with the eyes of the learner and not just the eyes of the math
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It’s a comprehensive and well-organized book on analytical probability distributions. It’s very useful to all my students in teaching probability theory at college and university. It is the best book you can find to learn Excel and get your hands on a practical to probability theory using Excel. I use it to teach students to use Excel to perform numerical simulations to help understand what happens when we make decisions, such as for insurance pricing or stock trading. I wrote, Excel is a powerful tool for data analysis, but it’s not the only one
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“In my last article I gave you a good description of what statistical probability distributions are. In this article I will describe the different kinds of distributions in statistical probability theory and how they are expressed in Excel with the help of the SUMX function. First I will give you a general overview of probability distributions. This is an essential tool for almost every mathematician. Let me give you a simple example of this tool. What’s the probability of landing on a specific seat on an airplane, if you are flying to Rome? If you are a passenger, there are only