As a manager of an organization, what probability distribution from this week would you use if you wanted to estimate or study an aspect of your employee turnovers? Explain why you would use it. In your post, be sure to specifically identify the statistical formulas and what additional data you would need to determine your estimate(s). Some aspects of employee turnovers may be time employed, number of annual turnovers, time until the first turnover of the year, etc.
Here are the probability distributions that we have covered.
Discrete:
- Hypergeometric—See Section 4.1 as to when you may use it.
- Binomial—See Section 4.2 as to when you may use it.
- Poisson—See Section 4.4 as to when you may use it.
Continuous:
- Uniform—See Section 5.2 as to when you may use it.
- Exponential—See Section 5.3 as to when you may use it.
- Normal—See Sections 6.2 and 6.3
Do not forget to explain why your probability distribution applies.
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