How is probability distribution of random variable construct, Mathematics

How is the probability distribution of a random variable constructed?
Usually, the past behavior of the variable is studied and the frequency distribution of the past data is formed. If the past behavior can be taken as a representative pattern of the future also, then the past frequency distribution can be used as a guide for predicting the future values of the random variable. If past behavior cannot help, then a subjective probability distribution of the likely future values is formed on the basis of expert opinion.  

 

Example 

 

The issue pattern of a component AB323 as observed by the storekeeper of XYZ Limited over the past one hundred working days has been summarized below.

Number Issued

No. of days


100

1

101

2

102

3

103

5

104

6

105

7

106

9

107

10

108

12

109

11

110

9

111

8

112

6

113

5

114

4

115

2

From the above table, in addition to observing that the issues have ranged between 100 units to 115 units, the storekeeper can also assess the chances of each quantity being issued by forming a probability distribution.

The probability distribution can be formed by dividing the individual values by 100 (the total number of days over which the observations have been made).

Number issued

Probability that the Random Variable will take on this value


100

0.01

101

0.02

102

0.03

103

0.05

104

0.06

105

0.07

106

0.09

107

0.10

108

0.12

109

0.11

110

0.09

111

0.08

112

0.06

113

0.05

114

0.04

115

0.02

Total

1.00                                          

The probability distribution of a random variable provides a probability for each possible value and the probabilities must sum to 1. 

Posted Date: 9/15/2012 1:17:35 AM | Location : United States







Related Discussions:- How is probability distribution of random variable construct, Assignment Help, Ask Question on How is probability distribution of random variable construct, Get Answer, Expert's Help, How is probability distribution of random variable construct Discussions

Write discussion on How is probability distribution of random variable construct
Your posts are moderated
Related Questions
how to multiply 8654.36*59

assignment on income tax


Can you help me find out how to find the surface area of a prism

can i known the all equations under this lesson with explanations n examples. please..

How did the teacher get 30 + 12 + 1.5 for the equation of volume of rectangular prism measuring L=14.4, W= 3, and H= 5? Formula given was V= Bh. My answer was 43.5.14.5 x 3.

how do we answer questions with fraction mixed. what are the easier ways to do it



what is 36 percent as a fraction in simplest form