Relative frequency definition, Mathematics

Assignment Help:

Relative Frequency 

This type of probability requires us to make some qualifications. We define probability of event A, occurring as the proportion of times A occurs, if we repeat the experiment several times under the same or similar conditions.

 

Example 

Consider the following distribution of salaries in a finance company for February, 2002.

Salaries (Rs.)

Frequency

Relative Frequency (%)


  2,000 -   5,000

 2

4%

  5,000 -   8,000

11

22%

  8,000 - 11,000

18

36%

11,000 - 14,000

10

20%

14,000 - 17,000

 7

14%

17,000 - 20,000

 2

4%

 

50

100%

For a subsequent month the salaries are likely to have the same distributions unless employees leave or have their salaries raised, or new people join. Hence we have the following probabilities obtained from the above relative frequencies.

Salaries (Rs.)

Probability

  2,000 -   5,000

4%

  5,000 -   8,000

22%

  8,000 - 11,000

36%

11,000 - 14,000

20%

14,000 - 17,000

14%

17,000 - 20,000

4%

 

100%

These probabilities give the chance that an employee chosen at random will be in a particular salary class. For example, the probability of an employee's salary being Rs.5,000 - Rs.8,000 is 22%.


Related Discussions:- Relative frequency definition

Eulers Method, Euler's Method Up to this point practically all differe...

Euler's Method Up to this point practically all differential equations which we've been presented along with could be solved. The problem along with this is which the exceptio

On income and return from shares, a company declares a semu annual dividend...

a company declares a semu annual dividend on 5%.a man has 400 shares of the company.if his annual income from the share is rs 1000 find the face value of each share?

Math on a spot, compare: 643,251: 633,512: 633,893. The answer is 633,512.

compare: 643,251: 633,512: 633,893. The answer is 633,512.

Set builder notation, For inequalities we contain a similar notation.  Base...

For inequalities we contain a similar notation.  Based on the complexity of the inequality the solution set might be a single number or it might be a range of numbers. If it is jus

Find the height of the building, A building is in the form of a cylinder su...

A building is in the form of a cylinder surrounded by a hemispherical vaulted dome and contains   41(19/21-) cu m of air. If the internal diameter of the building is equal to its t

Limit problem, limit x-a/|x-a| equals x-a [a]a [b]0 [c]-a [d]none 0f these

limit x-a/|x-a| equals x-a [a]a [b]0 [c]-a [d]none 0f these

Find the annual percentage yield, 1.   Find the APY for the bank described ...

1.   Find the APY for the bank described below- A bank offers an APR of 4% compounded monthly. 2.  Use the compound interest formula to compute the balance in the following a

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd