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Continuous vs Discrete Distributions
Posted: Fri May 05, 2017 3:53 pm
What is the difference between discrete and continuous distributions?
Re: Continuous vs Discrete Distributions
Posted: Fri May 05, 2017 3:57 pm
A continuous distribution is when the a variable can be equal to any value between two defined variables. For example if we have a continuous distribution for duration that is between 5 and 10 days, then Monte Carlo simulation can randomly generate any value between 5-10.
Discrete distributions are when the variable can only have specific discrete values between to defined variable. So for in the example below if we are only using whole days, the random number generator could only return 5, 6, 7, 8, 9, or 10. There can be no “in between values such as 5.25, 6.17, etc..