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

Surface area of prisms , Can you help me find out how to find the surface a...

Can you help me find out how to find the surface area of a prism

Important points about the alternating series test, Important Points About ...

Important Points About the Alternating Series Test There are a several things to note about this test.  Very first, unlike the Integral Test and the Comparison or Limit Compari

Julie had $500 how much money did julie spend, Julie had $500. She spent 20...

Julie had $500. She spent 20% of it on clothes and then 25% of the remaining money on CDs. How much money did Julie spend? Find out 20% of $500 by multiplying $500 by the decim

RECTILINEAR FIGURES, AB,BC,CD ARE THREE CONSECUTIE SIDES OF REGULAR POLYGON...

AB,BC,CD ARE THREE CONSECUTIE SIDES OF REGULAR POLYGON.IF ANGLE BAC IS 18 DEGREE, FIND EXTERIOR ANGLES AND NUMBER OF SIDES ?

Determine that the series is convergent or divergent, Determine or find out...

Determine or find out if the subsequent series is convergent or divergent.  If it converges find out its value. Solution To find out if the series is convergent we fir

Build a fine automaton which accept all words, Build a Fine Automaton which...

Build a Fine Automaton which accept all words which have different first and last letters (that is if the word starts with an "a" to be accepted it should end with "b" and vice ver

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