Continuous Variable: can take on any value between two specified values. Obtained by measuring. Discrete Variable: not continuous variable (cannot take on any value between two specified values).

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 ...

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 ...

This program generates N amount of random variables for continuous uniform, exponential, Bernoulli, Poisson, Binomial, Gamma, and discrete distribution with the support set {1,2,3,4} and pmf P[W_i=j]= ...

Once you have finished solving the exercises, be sure to commit your changes, push to your repository and go to 4Geeks.com to upload the repository link. Once you start working on the project, you ...

This course is compulsory on the BSc in Actuarial Science and BSc in Financial Mathematics and Statistics. This course is available on the BSc in Business Mathematics and Statistics, BSc in ...

A new proof, based on the duality theorem of linear programming, is given of a theorem of V. Strassen, which states essentially that the minimum distance between random variables with given ...

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 ...