Random variable, Mathematics

Assignment Help:

RANDOM VARIABLE

A variable which assumes different numerical values as a result of random experiments or random occurrences is known as a random variable.

The rainfall measured in centimeters on each day of the monsoon season, the maximum temperature of each day for a city, the number of passengers traveling by train from Delhi to Mumbai everyday and the number of patients seen by a doctor each day are all examples of random variables. That is, the values assumed by these variables on each day would be random and cannot be accurately predicted. The prices of a share in a perfectly efficient market are supposed to follow a random walk in which the current price is totally independent of the price changes occurring in the past. Hence, previous price patterns cannot be used to predict the future prices.

If the random variable can assume any value within a given range, it is called a continuous random variable. On the other hand, if the random variable can assume only a limited number of values, it is called a discrete random variable. In examples cited in the previous para, rainfall and maximum temperature are examples of continuous random variables as they can register a wide variety of values within a given range. For instance, where the temperature is being measured in Celsius, within a range of 29oC to 30oC, the temperature could assume such values as 29.4oC, 29.75oC, 29.87oC. The number of persons traveling from Delhi to Mumbai everyday and the number of patients seen by a doctor each day are examples of discrete random variables as these values could only be whole numbers. You cannot have 353.5 persons traveling or 18.7 patients visiting the doctor. 


Related Discussions:- Random variable

Linear independence and dependence, It is not the first time that we've loo...

It is not the first time that we've looked this topic. We also considered linear independence and linear dependence back while we were looking at second order differential equation

Find out if the following series converges or diverges, Determine or find o...

Determine or find out if the following series converges or diverges.  If it converges find out its value. Solution We first require the partial sums for this series.

High self-esteem helps learning-how do children learn?, High Self-esteem He...

High Self-esteem Helps Learning :  Consider Ajay, a student of Class 2. He is constantly told by his irritated father, "How stupid you are! You don't even understand this! Even yo

Evaluate the slope of the line, Evaluate the slope of the line: Examp...

Evaluate the slope of the line: Example: What is the slope of the line passing through the points (20, 85) and (30, 125)? Solution:            m = 125 -85/30-20 = 4

Round 468.235 to the nearest hundredth, Round 468.235 to the nearest hundre...

Round 468.235 to the nearest hundredth ? The hundredths place is the second digit to the right of the decimal point (3). To decide how to round, you must like as at the digit t

Linda bought 35 yards of fencing how much did she spend, Linda bought 35 ya...

Linda bought 35 yards of fencing at $4.88 a yard. How much did she spend? To multiply decimals, multiply generally, count the number of decimal places in the problem, then us

Functions, The figure shows the sketch graphs of the functions

The figure shows the sketch graphs of the functions

Geometry, how can you tell qhich trangle is sss,asa, sas, and aas s

how can you tell qhich trangle is sss,asa, sas, and aas s

Graphs of sin x and cos x, Q. Graphs of Sin x and Cos x ? Ans. The...

Q. Graphs of Sin x and Cos x ? Ans. The sine and cosine functions are related to the path that an object might take around a circle. Suppose a dolphin was swimming over

Constructing a dfa/nfa or a regex), Let ∑ = (0, 1). Define the following la...

Let ∑ = (0, 1). Define the following language: L = {x | x contains an equal number of occurrences of 01 and 10} Either prove L is regular (by constructing a DFA/NFA or a rege

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd