Be aware that Probability of Occurrence (probability distribution) is not the same as Cumulative Probability (probability of success).
If an event has a 90% probability of occurrence then the sum of all remaining events probabilities of occurrence is limited to 10% as the summ of all probabilities of occurrence by definition equals 1.00 or 100%.
In the above example the probability of occurrence corresponding to 20% corresponds equally to 3 ranges while the cumulative probability (usually known as probability of success) corresponds to a single range in between the first two.
Common sense tells me P10, P50 and P90 refers to Cumulative Probability (probability of success) and not to Probability of Occurrence (probability distribution).
Member for
19 years 8 months
Member for19 years8 months
Submitted by Martin Selley on Sat, 2011-08-13 13:29
P10, P50, P90 percentages probability of occurance
P10 is a 10 percent chance of occurance, P50 is a 50 percent chance and P90 is a 90 percent chance of occurance. Used in forecasting of business results
Member for
21 years 8 months
Member for21 years8 months
Submitted by Rafael Davila on Thu, 2011-08-04 21:21
Member for
21 years 8 monthsBe aware that Probability of
Be aware that Probability of Occurrence (probability distribution) is not the same as Cumulative Probability (probability of success).
If an event has a 90% probability of occurrence then the sum of all remaining events probabilities of occurrence is limited to 10% as the summ of all probabilities of occurrence by definition equals 1.00 or 100%.
http://www.mcgrawhill.ca/college/olcsupport/siklos4/tables/table%2013.6…
In the above example the probability of occurrence corresponding to 20% corresponds equally to 3 ranges while the cumulative probability (usually known as probability of success) corresponds to a single range in between the first two.
Common sense tells me P10, P50 and P90 refers to Cumulative Probability (probability of success) and not to Probability of Occurrence (probability distribution).
Member for
19 years 8 monthsP10, P50, P90 percentages
P10, P50, P90 percentages probability of occurance
P10 is a 10 percent chance of occurance, P50 is a 50 percent chance and P90 is a 90 percent chance of occurance. Used in forecasting of business results
Member for
21 years 8 monthsP10, P50, and P90 I believe
P10, P50, and P90 I believe refers to points in the Cumulative Probability Curve.
For specifics on the software look for the manual,
http://www.biztech.stevens-tech.edu/jkeating/BT%20223/Crystal%20Ball/20…
make a search on the PDF for Cumulative
Best regards,
Rafael
Member for
19 years 10 monthsHi Martin Sorry Ican't help
Hi Martin
Sorry Ican't help but you seem to be the person to tell Rafael and I what does P10 P50 and P90 mean?
Best regards
Mike Testro