Discrete variable's values are also "disjoint," so we have the gaps in a discrete variable's probability distribution graph. While the formula for the expected value of a discrete variable may seem ...

Discover what a log-normal distribution is, its financial applications, and how to calculate it, including using Excel for ...

In a number of situations we are faced with the problem of determining efficient estimates of the mean and variance of a distribution specified by (i) a non-zero probability that the variable assumes ...

Additionally, you will learn about conditional probability, random variables, probability distributions, and real-life applications of probability.

The classical method of studying a cumulative sum control scheme of the decision interval type has been to regard the scheme as a sequence of sequential tests, to determine the average sample number ...