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

Estimate root of given equations, The positive value of k for which x 2 +K...

The positive value of k for which x 2 +Kx +64 = 0 & x 2 - 8x + k = 0 will have real roots . Ans: x 2 + K x + 64 = 0 ⇒  b 2 -4ac > 0 K 2 - 256 > 0 K

Bounded intervals, Let a and b be fixed real numbers such that a ...

Let a and b be fixed real numbers such that a The open interval (a, b): We define an open interval (a, b) with end points a and b as a set of all r

Limit, limit x APProaches infinity (1+1/x)x=e

limit x APProaches infinity (1+1/x)x=e

What are the three sides of a right triangle, What are the Three Sides of a...

What are the Three Sides of a Right Triangle? Each side of a right triangle can be labeled opposite, adjacent, or hypotenuse, based on its relationship to the right angle and o

Vector addition, Is it possible to add two vectors of unequal magnitude and...

Is it possible to add two vectors of unequal magnitude and get a resultant of zero?Please explain also. Ans) no it is not possible as .. if the magnitude is diffrent then they c

Find the volume of the cuboids, If the areas of three adjacent faces of cub...

If the areas of three adjacent faces of cuboid are x, y, z respectively, Find the volume of the cuboids. Ans: lb = x , bh = y, hl = z Volume of cuboid = lbh V 2 = l 2 b 2

Write following in terms of simpler logarithms, Write following in terms of...

Write following in terms of simpler logarithms.  (a) log 3 (9 x 4    / √y) Solution log 3 (9 x 4 / √y) =log ­ 3 9x 4 -  log  y (1/2) =log ­ 3 9 + log ­ 3 x 4

Bernoulli differential equations, In this case we are going to consider dif...

In this case we are going to consider differential equations in the form, y ′ +  p   ( x ) y =  q   ( x ) y n Here p(x) and q(x) are continuous functions in the

Exponets, what does the three mean in the power ?

what does the three mean in the power ?

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