Poisson Distribution

Posted in Operations and Supply Chain Terms, Total Reads: 1799

Definition: Poisson Distribution

The Poisson distribution is a discrete distribution that takes on the values X = 0, 1, 2, 3. If an event occurs at random in time or space and has a mean number of occurrences “lambda (λ)” in a given interval of time or space and if X is a random variable the number of occurrences in the given interval, then X follows Poisson distribution X – Po (λ).

Eg; the number of car accident on a particular intersection of a road in one day occur at a mean rate of 1 a day

Let X be the random variable “number of accidents/day” then X-Po (1)

Search & Explore : Management Dictionary

Browse the definition and meaning of more terms similar to Poisson Distribution. The Management Dictionary covers over 7000 business concepts from 6 categories.

Share this Page on: