A continuous random variable is a type of variable that can take on any value within a given range. Unlike discrete random variables, which have a countable number of outcomes, continuous random ...

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 ...

So far we have looked at discrete random variables and how to calculate/visualize their distribution functions. In this lesson, we shall deal with continuous variables and probability density function ...

Density functions are nonnegative for all real numbers but greater than zero only at a finite or countably infinite number of points. Density functions are nonnegative for all real numbers and are ...

Abstract: Complex random variables arise naturally in many settings and their properties are of general interest. Past work on complex variables has mainly focused on their second-order structure, as ...

Probability theory forms the mathematical backbone for quantifying uncertainty and random events, providing a rigorous language with which to describe both everyday phenomena and complex scientific ...

A one-dimensional random walk mathematical and simulation-based model to predict the expected distance from the starting point. Model was tested for range of scenarios e.g. starting position, ...

Forecasting for any small business involves guesswork. You know your business and its past performance, but you may not be comfortable predicting the future. Using Excel is a great way to perform what ...