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 ...

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 ...

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 ...

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 ...

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 ...

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