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

How many pages are not advertisements, The first section of a newspaper has...

The first section of a newspaper has 16 pages. Advertisements take up (3)3/8 of the pages. How many pages are not advertisements? Subtract the number of pages of advertisements

Algebra, Solve 2x^2 + 5x + 36

Solve 2x^2 + 5x + 36

Methods of sampling, a.      Random or probability sampling methods they in...

a.      Random or probability sampling methods they involve: Simple random sampling Systematic sampling Stratified sampling Multi stage sampling   b.

Multiply 3 (x + 4) = 3x + 12 to find out the total perimeter, Jake required...

Jake required to find out the perimeter of an equilateral triangle whose sides measure x + 4 cm each. Jake realized that he could multiply 3 (x + 4) = 3x + 12 to find out the total

Wholenumberriddles, I am less than 100 the sum of my digits is 4 half of me...

I am less than 100 the sum of my digits is 4 half of me is an odd number

Share and dividend, i want to get market value of 10 popular shares of all ...

i want to get market value of 10 popular shares of all working days in a week

Multiplication and division should be learnt intermeshed, E1) Do you agree ...

E1) Do you agree that multiplication and division should be learnt intermeshed with each other, or not? Give reasons for your answer.  E2) How would you explain to children wh

Integers , (-85) from (-21) and explain me

(-85) from (-21) and explain me

Explain what is symmetry in maths, Symmetry Definition : A line of sy...

Symmetry Definition : A line of symmetry divides a set of points into two halves, each being a reflection of the other. Each image point is also a point of the set. Defin

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