Integration techniques can be used to determine probabilities for any probability that is continuous. The function that models this probability is called a probability density function. A probability ...

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 ...

Continuous Variable: can take on any value between two specified values. Obtained by measuring. Discrete Variable: not continuous variable (cannot take on any value between two specified values).

School of Mathematical Sciences, Rochester Institute of Technology, Rochester, New York, USA. There are commonly used, continuous probability distributions of one variable, such as the normal ...

The total area under the curve must equal 1, representing the fact that the probability of some outcome occurring within the entire range is certain. \[\int_{-\infty}^{\infty}f\left(x\right)dx=1\] ...

This methodological article aims to present the type I Pareto distribution in a clear and illustrative manner for better understanding among social researchers. It also provides R scripts for ...

Abstract: This article deals with a risk probability minimization problem for finite horizon continuous-time Markov decision processes with unbounded transition rates and history-dependent policies.