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

Elimination, Eliment t from following equations v=u+at s=ut+1/2at^2

Eliment t from following equations v=u+at s=ut+1/2at^2

Service marketing, assignment of marketing mix on healthservices

assignment of marketing mix on healthservices

Differentials, Differentials : In this section we will introduce a nota...

Differentials : In this section we will introduce a notation. We will also look at an application of this new notation. Given a function y = f ( x ) we call dy & dx differen

Polynomial : f(x).f(1/x), A polynomial satisfies the following relation f(x...

A polynomial satisfies the following relation f(x).f(1/x)= f(x)+f(1/x). f(2) = 33. fIND f(3) Ans) The required polynomial is x^5 +1. This polynomial satisfies the condition state

Tied rankings, Tied Rankings A slight adjustment to the formula is mad...

Tied Rankings A slight adjustment to the formula is made if several students tie and have the similar ranking the adjustment is: (t 3 - t)/12 Whereas t = number of tied

Sample space, Sample Space is the totality of all possible out...

Sample Space is the totality of all possible outcomes of an experiment. Hence if the experiment was inspecting a light bulb, the only possible outcomes

Word problems, Ana has hiked 4 1/2 miles. She is 2/3 of the way along the t...

Ana has hiked 4 1/2 miles. She is 2/3 of the way along the trail. How long is the trail?

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