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

Describe least three characteristics at medieval world, Based upon the prim...

Based upon the primary sources, describe at least three characteristics that mark the early modern world as distinctly different than the Medieval world that preceded it. You might

Rectilinear figures, Q1- different types of rectilinear figures? Q2- interi...

Q1- different types of rectilinear figures? Q2- interior and exterior angles of the polygon? Q3-relation between interior and exterior angles of polygons? Q4- properties of any fiv

Example of substitution method of linear equations, Describe some Example o...

Describe some Example of substitution method of Linear Equations with solution.

Relationship between the graph and inverse function, Interesting relationsh...

Interesting relationship between the graph of a function and the graph of its inverse : There is one last topic that we have to address quickly before we leave this section.  Ther

What is the diameter of the pipe along with the insulation, A pipe has a di...

A pipe has a diameter of 2.5 inches. Insulation which is 0.5 inches thick is placed around the pipe. What is the diameter of the pipe along with the insulation around it? The i

The distributive law, The Distributive Law :  If you were asked to mentall...

The Distributive Law :  If you were asked to mentally multiply 37 with 9, how would you proceed? 1 would do it as follows - 37 is 30 + 7, 30 x 9 = 270, 7 x 9 = 63, so 270 + 63, th

Matrix addition and subtraction, What is Matrix addition and subtraction? I...

What is Matrix addition and subtraction? Illustrate the procedure of Matrix addition and subtraction.

Sets & relation.., the graph of relation y=f(x) respect to x=2 straight lin...

the graph of relation y=f(x) respect to x=2 straight line is symmetrical then which is correct; (option) a) f(x+2)=f(x_2),b)f(2+x)=f(2_x),c)f(x)=f(_x),d)f(x)=_f(_x)

Compute the volume and surface area of a right circular cone, Compute the v...

Compute the volume and surface area of a right circular cone: Compute the volume and surface area of a right circular cone along with r =  3", h = 4", and l = 5".  Be sure to

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