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

Factor , #Mai iss 3 years younger than twice the age of her brother . If b ...

#Mai iss 3 years younger than twice the age of her brother . If b represents the age of Mai''s brother .which expression below represents Mai''s age 2-3b 3-2b 2b-3 3b-2 2-3b 3-2b q

Find quadratic equation using the quadratic formula, Find quadratic equatio...

Find quadratic equation using the Quadratic Formula: Solve the subsequent quadratic equation using the Quadratic Formula. 4x 2 + 2 = x 2 - 7x: Solution: Step 1.

Find x if one ball is drawn at random from the box, A box contains 12 balls...

A box contains 12 balls out of which x are black .if one ball is drawn at random from the box  what is the probability that it will be a black ball ? If 6 more black balls are   pu

Algebra, Tom has five times as many marbles as Jim. together they have 42 m...

Tom has five times as many marbles as Jim. together they have 42 marbles. how many marbles does each has?

Integers, Explain with the help of number line (-6)+(+5)

Explain with the help of number line (-6)+(+5)

Brownian motion, How do I find the density of a square of a brownian motion...

How do I find the density of a square of a brownian motion .

Markov chain, The Video Club Martin rents movies at "regular price" andat ...

The Video Club Martin rents movies at "regular price" andat "half price". Usually if the films are regularly priced one day, they will be at regular price the next day with probab

Show that aq= 1/2 perimeter of triangle abc, A circle touches the side BC o...

A circle touches the side BC of a triangle ABC at P and touches AB and AC when produced at Q and R. Show that AQ= 1/2 (perimeter of triangle ABC) Ans:    Since the length o

Probability, There are 20 defective bulbs in a box of 100 bulbs.if 10bulbs ...

There are 20 defective bulbs in a box of 100 bulbs.if 10bulbs are choosen at random then what is the probability of there are just 3defective bulbs

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