Logical Decisions - Classweb

A uniform distribution is defined by an upper and lower limit.
Any level between the two limits is equally likely to occur.
Assume that we feel that the "Resale Value" for the "Wolf" truck is
equally likely to be anywhere between 60 and 70 percent.
5. Enter 70 as the "Upper Bound."
6. Enter 60 as the "Lower Bound."
7. Click "OK” twice to return to the Matrix view.
The cell for "Resale Value" for the "Wolf" truck should now be
highlighted in red. This indicates that you can't directly modify
this cell. You must make any new changes in the probability
dialog box.
Next we will enter the level for the "Mountain Lion" truck.
Assume we think that the resale value for this truck has a Normal
distribution (bell shaped curve) with a mean of 60 percent and a
standard deviation of 5 percent. To enter this distribution:
1. In the Matrix view, double-click on the "Resale Value"
cell for the "Mountain Lion" truck.
2. LDW will display the probability dialog box.
3. Click on the "Normal Distribution" radio button.
4. LDW will display a dialog box where you enter the
parameters for the Normal distribution.
5. Enter a Mean of 60.
6. Enter a Standard Deviation of 5.
7. Click "OK" twice to return to the Matrix view.
.
Finally, we'll define the probability distribution for the "Coyote"
truck as a discrete distribution with three possible outcomes. The
possibilities are:
Probability % Resale Value
0.25 50
0.50 60
0.25 65
To enter this distribution:
Section 5 -- Advanced Tutorial 5-7