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 ...

In this lesson, you'll look at a way to represent discrete distributions - the probability mass function (PMF), which maps from each value to its probability. A probability mass function (PMF), ...

The probability density function of a uniform random variable looks like a horizontal line segment over the support. This indicates that for any interval of a given length within the support, the ...

So far, you learned about discrete random variables and how to calculate or visualize their distribution functions. In this lesson, you'll learn about continuous variables and probability density ...

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

Discover how probability distribution methods can help predict stock market returns and improve investment decisions. Learn to assess risk and potential gains.

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 ...

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 ...