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. \[\int_{-\infty}^{\infty}f\left(x\right)dx=1\] ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Abstract: Alice selects an arbitrary pdf f and uses a stochastic encoder to generate a prefix-free codeword M, which is sent to Bob so that he can generate a single instance of the random variable X ~ ...

Abstract: We deal with the problem of creating empirical CDF (ECDF) for a continuous random variable X, defined as time of an event of interest, such as failure or repair. The data sample to construct ...