For this assignment, your group will utilize the preliminary data collected in the Topic 2 assignment (see attached Excel workbook). Complete the following steps using Excel. The accuracy of formulas and calculations will be assessed.
1. Select the appropriate discrete probability distribution. If using a binomial distribution, use the constant probability from the collected data and assume a fixed number of events of 20. If using a Poisson distribution, use the applicable mean from the collected data.
2. Identify the following: the probability of 0 events occurring, the probability of <5 events occurring, and the probability of ≥10 events occurring.
3. Using the mean and standard deviation for the continuous data, identify the applicable values of X for the following: Identify the value of X of 20% of the data, identify the value of X for the top 10% of the data, and 95% of the data lies between two values of X.
Please complete these calculation for for median employee age, gender, salary and physical location. All data is attached in Excel workbook.
Provide summary that includes the following.
1. Interpretation of various probability distributions that were calculated, including justification of the type of distribution selected.
2. Interpretation of the results of the various value of X calculations that were completed.
