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 ...

Amusement park patrons, wanting to go on a log ride, might not have to wait in line at all, they might have to wait for hours, or the wait could be anywhere in between. For a random log rider, the ...

Abstract: We introduce the domain of continuous random variables (CRV) over a domain, as an alternative to Jones and Plotkin's probabilistic power domain. While no known Cartesian-closed category is ...

In the early development of probability theory, only discrete random variables (although not called random variables at the time) were considered. Isaac Newton (1643-1727) considered the idea of ...