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

The actual solution is the specific solution to a differential equation which not only satisfies the differential equation, although also satisfies the specified initial conditions

We now focus on the use of Datalog for defining properties and queries m graphs. (a) Suppose that P is some property of graphs definable in Datalog. Show drat P is preserved und

Give a Definition of Perimeter and Area? Perimeter is the distance around a flat (2-dimensional) shape. Area is the amount of space taken up by a flat (2-dimensional) shape. is

#There is a balance of $1,234 and this person receive a refund check in the amount of $25 with her paycheck that was deposited into her account for $1500 which made her balance $27

Infinite Interval  - Improper Integrals In this type of integral one or both of the limits that is upper limit and lower limit of integration are infinity.  In these cases the


Write down two more reasons why children consider 'division' difficult. Regarding the first reason given above, one of fie few division related experiences that the child perhaps d

Show the result of the following sequence of UNION operations using union-by-weight with the following assumptions Unions are performed on the representatives on the sets th

Correlation coefficient - These are numerical measures of the correlations existing between the independent and the dependent variables - These are better measures of corre