December 2021
Beginner to intermediate
1168 pages
30h 17m
English
book
Microsoft Excel Data Analysis and Business Modeling (Office 2021 and Microsoft 365), 7th Edition
by Wayne Winston
Content preview from Microsoft Excel Data Analysis and Business Modeling (Office 2021 and Microsoft 365), 7th Edition
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Chapter 78
Weibull and beta distributions: Modeling machine life and duration of a project
Questions answered in this chapter:
How can I estimate the probability that a machine will work without failing for at least 20 hours?
How can I estimate the probability that installing drywall in a building will take more than 200 hours?
The Weibull random variable is a continuous random variable that is often used to model the lifetime of a machine. If you have data about how long similar machines have lasted in the past, you can estimate the two parameters (alpha and beta) that define a Weibull random variable. You can then use Excel’s WEIBULL.DIST function to determine the probabilities of interest, such as an estimate of how long a machine will ...
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O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.