Fitting Data to Distributions - quantdec.com

Presented by Bill Huber, Quantitative Decisions, PAFitting Distributions to DataPractical Issues in the Use ofProbabilistic Risk AssessmentSarasota, FloridaFebruary 28 -March 2, 19992 Fitting Distributions to data , March 1, 1999 Overview Experiments, data , and Distributions Fitting Distributions to data Implications for PRA: managing risk3 Fitting Distributions to data , March 1, 1999 Objectives By the end of this talk you should know: exactly what a distribution is several ways to picture a distribution how to compare Distributions how to evaluate discrepancies that are important how to determine whether a fitted distribution is appropriate for a probabilistic risk analysisPresented by Bill Huber, Quantitative Decisions, PAPart IExperiments, data , and distributions5 Fitting Distributions to data , March 1, 1999 Outcomes An outcomeis the result of an experiment or sequence of observations.

6 Fitting Distributions to Data, March 1, 1999 Sample spaces • A sample space is a collection of possible outcomes. • Examples: – The set of answers that could be given by 1,052 respondents to the question, “Do you believe that the

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