Advanced industries such as wind turbines aim for condition-based maintenance (CBM) to enhance system availability and reach higher revenue. Hence, decision making plays an essential role in ...

A t-distribution is a type of probability function that is used for estimating population parameters for small sample sizes or unknown variances.

The normal distribution is a continuous probability distribution that is symmetrical, bell-shaped, and centred around its mean. It is one of the most important distributions in statistics because many ...

You can use Copilot to extract data directly from PDFs and turn it into usable content in your Excel spreadsheets. Learn how to convert PDF to Excel using Copilot.

Using a scenario analysis based on a probability distribution can help a company frame its possible future values in terms of a likely sales level and a worst-case and best-case scenario.

You can use the RAND () function to establish probability and create a random variable with normal distribution.

probability distributions exact vs. approximate methods the binomial distribution the Poisson distribution - the Poisson model - normal approximation - exact approximation - exact tail method about p ...

III. How to Calculate Continuous Probability Distribution? Calculating continuous probability distribution requires a more complex approach using integral calculus and different types of functions.

Using Excel Solver, Figure 6 shows the best-fit gamma distribution with α = 1.29 and β = 0.37, in comparison to the observed magnitude probability distribution in Taiwan.