Amusement park patrons, wanting to go on a log ride, might not have to wait in line at all, they might have to wait for hours, or the wait could be anywhere in between. For a random log rider, the ...

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

Abstract: We deal with the problem of creating empirical CDF (ECDF) for a continuous random variable X, defined as time of an event of interest, such as failure or repair. The data sample to construct ...

Abstract: We deal with the problem of creating empirical CDF (ECDF) for a continuous random variable X, defined as time of an event of interest, such as failure or repair. The data sample to construct ...

The PMF function that we saw before works great for inspecting discrete random variables and calculating their expected values. However, we did see that when moving towards continuous random variables ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...