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

Rectilinear figure, what is a redtilinear figure? like what are for the req...

what is a redtilinear figure? like what are for the requirments for a shape to be called that? example a regular polygon has all sides and angles equal. i cant find that kind of dr

Algebra, simplify mn+mp+nq+pq /n+p

simplify mn+mp+nq+pq /n+p

The formal algorithm in maths, When do you think you should introduce word ...

When do you think you should introduce word problems-before children master the formal algorithm, or after? What are your reasons for your choice? In any case, no textbook can s

North west corner method, What is the history of North west corner method i...

What is the history of North west corner method in transportation problem? Why there are only m+n-1 solution to the transportation problem?

Geometria, un prisma retto ha per base un rombo avente una diagonale lunga ...

un prisma retto ha per base un rombo avente una diagonale lunga 24cm. sapendo che la superficie laterale e quella totale misurano rispettivamente 2800cm e3568cm ,calcola la misura

Rational Number Application, in the horizontal bar event the u.s.a scored 2...

in the horizontal bar event the u.s.a scored 28.636,gremany scroed 28.7,romnia scored 27.962,and chain scored 28.537 points.which list shows these scored in descending order

Shares and dividend, write a short note on shares and dividend under the fo...

write a short note on shares and dividend under the following heading: shares ,type of shares,face/nominal value of shares.

Equivalent fractions, what is 6/36 as two equivalent fractions 2/12 as tw...

what is 6/36 as two equivalent fractions 2/12 as two equivalent fractions 4/28 3/21 2/11 4/13=8/x 12/30=n/90 q/54=2/9 3/7 14/h=7/20

Definite integration-mathematics, Definite integration It involve integ...

Definite integration It involve integration among specified limits, say a and b The integral    is a definite integral whether the limits of integration are as: a and b

Create a circular table with no restrictions, 1. Four different written dri...

1. Four different written driving tests are administered by a city. One of these tests is selected at random for each applicant for a drivers license. If a group of 2 women and 4 m

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