Quote:
Originally Posted by bcbrown
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This is a classic binomial distribution. You can also think of this as flipping a coin every 8 seconds, where the chance of heads is 11.75% and the chance of tails is 88.25%.
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Exactly your problem. You are using a single Binomial distribution in an equation where all other variables are not binomial distributions. It's an apples to oranges comparison. You are plugging in an incorrect variable into the equation.
The reason why people can use "PPM" as a metric is because when you have 1 PPM, you get 1 proc per minute on average. It's really that simple. You wouldn't be able to say that if the average never came out to be 1 proc per minute.