Business simulation Essay Example | Topics and Well Written Essays - 500 words

Business simulation - Essay Example Flipping a coin and rolling a dice give possible outcomes of a finite set. A discrete distribution is thus described by the finite possible outcomes sets, which describe a discrete distribution. Test results defining fail or pass and natures of parts demarcated by types or numbers are also examples of discrete distributions. When the possible numbers of outcomes are indeterminable, a continuous distribution occurs. For instance the time taken during a journey is a depiction of a continuous distribution because different marginal times are taken for different parts of the journey same as the time consumed in undertaking a manual activity. In these cases however much time may be similar, when further condensed into decimal place measurements, differences are inevitably notable. Distributions usually have finite lower and upper limits implying that they can be bounded. It is possible creating one’s own distributions with SIMUL8 using provided definite classical statistical distributions. This is a continuous distribution that is bounded on the lower limit and is used in the representation of the timings between the occurrences of breakdowns and timings between unsystematic occurrences, such as arrival times into the system, where there is random distribution and independence of the arrival sequences. The lower bounding of this discrete distribution is 0 and it is used where the instance of the reoccurrence of an event is known in the case where a single trial is repeated over and over, for example in deciphering the number of items requisitioned in an inventory or items on a batch. Is a Geometric distribution bounded on the lower limit at 0 and is useful in independent trial cases to return the total failures numbers before realization of success, and is usable in controlling ticketing problems, marketing survey returns and in meteorological models. This is a continuous distribution that has bounding on the lower limit and is used in generation