Abstract: In this chapter, we introduce the concept of a random variable and develop the procedures for characterizing random variables, including the cumulative distribution function, as well as the ...

A **variable** is said to be **random** if its values are determined by a random experiment. In other word, **random variable** is a numerical description of the ...

Julie Young is an experienced financial writer and editor. She specializes in financial analysis in capital planning and investment management. Eric's career includes extensive work in both public and ...

College of Mathematics and Physics, Shijiazhuang University of Economics, Shijiazhuang, China. Science College, Beijing University of Civil Engineering and Architecture, Beijing, China. [1] W. Liu, ...

The Virginia Lottery offers a game called the New Year's Millionaire Raffle for which the top prize is one million dollars. There are 375,000 tickets sold, of which 508 are winners. There are three ...

Abstract: In this correspondence, we give a sufficient condition for the exponential decay of the tail probability of a nonnegative random variable. We consider the Laplace-Stieltjes transform of the ...

On a certain track team, the runners all take between 4 and 7 minutes to finish a mile. Suppose the probability density function for the length of time it takes a ...