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

Prove that the height of the cloud , HE IGHTS AND DISTANCES If the ...

HE IGHTS AND DISTANCES If the angle of elevation of cloud from a point 'h' meters above a lake is α and the angle of depression of its reflection in the lake is  β , prove

Surface area with parametric equations, Surface Area with Parametric Equati...

Surface Area with Parametric Equations In this final section of looking at calculus applications with parametric equations we will take a look at determining the surface area o

Commercial arithmetic, if oranges are bought at the rate of 11 for rupees ...

if oranges are bought at the rate of 11 for rupees 10 and are sold at the rate of 10 for rupees 11, find the profit percent

Standard trig equation, "Standard" trig equation: Now we need to move into...

"Standard" trig equation: Now we need to move into a distinct type of trig equation. All of the trig equations solved to this point were, in some way, more or less the "standard"

Determine the probability, Determine the Probability From a pack of pl...

Determine the Probability From a pack of playing cards what is the probability of; (i)  Picking either a 'Diamond' or a 'Heart' → mutually exclusive (ii) Picking either

Shares and dividend, how should i make my project on these topic?

how should i make my project on these topic?

Determine the angle, In parallelogram ABCD, m∠A = 3x + 10 and m∠D = 2x + 30...

In parallelogram ABCD, m∠A = 3x + 10 and m∠D = 2x + 30, Determine the m∠A. a. 70° b. 40° c. 86° d. 94° d. Adjacent angles in a parallelogram are supplementary. ∠A a

Operation on polynomial, Perform the denoted operation for each of the foll...

Perform the denoted operation for each of the following.  (a) Add 6x 5 -10x 2 + x - 45 to 13x 2 - 9 x + 4 .   (b) Subtract 5x 3 - 9 x 2 + x - 3 from       x 2+ x +1.

The sum of -4 and a number is equal to -48 what is number, The sum of -4 an...

The sum of -4 and a number is equal to -48. What is the number? Let x = the number. Because sum is a key word for addition, the equation is -4 + x = -48. Add 4 to both sides o

Fraction, in a garden 1/8 of the flowers are tulips. 1/4 of the tulips are ...

in a garden 1/8 of the flowers are tulips. 1/4 of the tulips are rd. what fraction of the flowers in the garden are red tulips

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