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

Functions, find the domain of the function f(x) = (| sin inverse sin x | - ...

find the domain of the function f(x) = (| sin inverse sin x | - cos inverse cos x) ^ 1/2

Five shirts and one tie cost $20 what price of one shirt, Three shirts and ...

Three shirts and five ties cost $23. Five shirts and one tie cost $20. What is the price of one shirt? Let x = the cost of one shirt. Let y = the cost of one tie. The ?rst part

Algorithm for division, ALGORITHM FOR DIVISION : If you ask a 10 or 1 1-ye...

ALGORITHM FOR DIVISION : If you ask a 10 or 1 1-year-old child to solve, say, 81 + 9, the chances are that she will correctly do it. But if you ask her to solve, say 72 + 3, t

Caselets, how are indian customers visiting shoppers stop any different fro...

how are indian customers visiting shoppers stop any different from customers of developed western countries

Tangent, Tangent, Normal and Binormal Vectors In this part we want to ...

Tangent, Normal and Binormal Vectors In this part we want to look at an application of derivatives for vector functions.  In fact, there are a couple of applications, but they

Static or dynamic, Consider a discrete-time system that is characterized by...

Consider a discrete-time system that is characterized by the following difference equation: Y(n) = x(n)cos? 0 n, where ? 0  is constant value, x(n)are the discrete-time input

Explain lobachevskian geometry and riemannian geometry, Explain Lobachevski...

Explain Lobachevskian Geometry and Riemannian Geometry ? Nineteenth century mathematician Nicolai Lobachevsky assumed that the summit angles of a Saccheri quadrilateral are ac

Vectors, why minimum three coplanar vectors are required to give zero resul...

why minimum three coplanar vectors are required to give zero resultant and not two?

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