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, In a parallelogram ABCD AB=20cm and AD=12cm.The bisecto...

In a parallelogram ABCD AB=20cm and AD=12cm.The bisector of angle A meets DC at E and BC produced at F.Find the length of CF.

Area under curve, w/ You could use this sample code to test your C function...

w/ You could use this sample code to test your C functions // Please make appropriate changes to use this for C++. // Following main function contains 3 representative test cases

What are factor trees explain, What are Factor Trees explain? In algebr...

What are Factor Trees explain? In algebra, we often need to factor a number into its prime factors. One way to do this is to use a factor tree. This is a network of numbers, st

Debate over answer to an equation..., The math equation is written exactly ...

The math equation is written exactly this way: 0+50x1-60-60x0+10=??? The answer I get is 10 and others say 0 0+50=50 50x1=50 50-60=-10 -10-60=-70 -70x0=0 0+10=10

Modelling the maximum volume, what are the dimensions of the box that can b...

what are the dimensions of the box that can be made if squares of x cm by x cm is cut off from 20cm by 20cm square paper

Basic, is 1/6 same as six times less

is 1/6 same as six times less

I need help with math, can i get help with math just with fractions i want ...

can i get help with math just with fractions i want to catch up with my class

Probabillity, In my wallet there is a 10p stamp, a 12p stamp and a 20p stam...

In my wallet there is a 10p stamp, a 12p stamp and a 20p stamp.I remove a stamp,put it back and then remove a stamp again.Draw a sample space diagram to show all the possible resul

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