Discrete variable's values are also "disjoint," so we have the gaps in a discrete variable's probability distribution graph. While the formula for the expected value of a discrete variable may seem ...

Sample space, Field and Probability Measure. Axiomatic definition of Probability. Bayes' theorem. Repeated trials. Continuous and discrete random variables and their probability distribution and ...

In all examples of discrete random variables, the probabilities in the probability distribution table give the 'long-term' proportion of times that the random variable assumes each possible value.

Probability Distribution Notes: Probability is a fundamental aspect of mathematics that helps us understand and quantify uncertainty. Mastery of this subject is essential for students, as it has ...

In a number of situations we are faced with the problem of determining efficient estimates of the mean and variance of a distribution specified by (i) a non-zero probability that the variable assumes ...

Richard A. Kronmal and Arthur V. Peterson, Jr. The alias method of Walker is a clever, new, fast method for generating random variables from an arbitrary, specified discrete distribution. A simple ...

(1) PROF. FRECHET'S "Généralités" represents the first volume only of a treatise which, as a whole, is to form part of the very important "Traité du calcul des probabilités"edited by Prof. Borel. The ...

Discover what a log-normal distribution is, its financial applications, and how to calculate it, including using Excel for practical financial analysis.

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...