BUSS1020 Lecture 6: BUSS1020-Lec-6
22 Aug 2018
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Document Summary
A continuous random variable can assume any value on a continuum (can assume an uncountable no. of values) Any value within an interval, e. g. thickness of an item. Anything related to ratio should be continuous variable. Can potentially take on any value depending on the ability to precisely & accurately measure, as they often involve lots of decimal places. For any continuous random variable x p(x = a) = 0 for any a. Probabilities are only considered for regions, i. e. p(a < x < b) Probability is the area under the density curve b/w a & b. Random variable has an infinite theoretical range: + to - . Exp(1) = e = mathematical constant ~= 2. 71828 d. = mathematical constant ~= 3. 14159 (*not probability from binomial probability) By varying parameters (cid:645) & obtain different normal distributions. X = any value of the continuous variable. Changing increases/decreases the spread change the sharpness of the bell shape.
