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

Calculus with vector functions - three dimensional space, Calculus with Vec...

Calculus with Vector Functions In this part we need to talk concisely on derivatives, limits and integrals of vector functions. Like you will see, these behave in a quite pred

Which of the following binomials could represent the length, The area of Mr...

The area of Mr. Smith's rectangular classroom is x 2 - 25. Which of the following binomials could represent the length and the width of the room? Since area of a rectangle is

Basic concepts of second order differential equations, In this section we w...

In this section we will be looking exclusively at linear second order differential equations. The most common linear second order differential equation is in the type.  p (t ) y

Share and divivdend, i m making a project on share and dividend. will u pls...

i m making a project on share and dividend. will u pls give the all of 10pages information ?

surfaces z + |y| = 1, Describe and sketch the surfaces z + |y| = 1 and (x ...

Describe and sketch the surfaces z + |y| = 1 and (x   2) 2 y + z 2 = 0.

What is the widest piece of sheetrock, A door height is 6 feet and 6 inches...

A door height is 6 feet and 6 inches and 36 inches wide. What is the widest piece of sheetrock that will ?t through the door? Round to the nearest inch. a. 114 in b. 86 in

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