Red Lobster also defines its trade areas based on market sizeand population density. Here are its seven density classes:DENSITYCLASS DESCRIPTION HOUSEHOLDSPER SQ. MILE1 Super Urban 8,000+2 Urban 4,000−7,9993 Light Urban 2,000−3,9994 First Tier Suburban 1,000−1,9995 Second Tier Suburban 600−9996 Exurban/Small 100−5997 Rural 0−99
Continuous Probability Distributions
Probability distributions are of two types, which are continuous probability distributions and discrete probability distributions. A continuous probability distribution contains an infinite number of values. For example, if time is infinite: you could count from 0 to a trillion seconds, billion seconds, so on indefinitely. A discrete probability distribution consists of only a countable set of possible values.
Normal Distribution
Suppose we had to design a bathroom weighing scale, how would we decide what should be the range of the weighing machine? Would we take the highest recorded human weight in history and use that as the upper limit for our weighing scale? This may not be a great idea as the sensitivity of the scale would get reduced if the range is too large. At the same time, if we keep the upper limit too low, it may not be usable for a large percentage of the population!
Red Lobster also defines its trade areas based on market size
and population density. Here are its seven density classes:
DENSITY
CLASS DESCRIPTION
HOUSEHOLDS
PER SQ. MILE
1 Super Urban 8,000+
2 Urban 4,000−7,999
3 Light Urban 2,000−3,999
4 First Tier Suburban 1,000−1,999
5 Second Tier Suburban 600−999
6 Exurban/Small 100−599
7 Rural 0−99
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