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

Analytical geometry, convert the equation 4x^2+4y^2-4x-12y+1=0 to standard ...

convert the equation 4x^2+4y^2-4x-12y+1=0 to standard form and determine the center and radius of the circle. sketch the graph.

Diffrentiation, y=f(a^x)   and f(sinx)=lnx find dy/dx Solution) dy/dx...

y=f(a^x)   and f(sinx)=lnx find dy/dx Solution) dy/dx = (a^x)(lnx)f''(a^x), .........(1) but f(sinx) = lnx implies f(x) = ln(arcsinx) hence f''(x) = (1/arcsinx) (1/ ( ( 1-x

Conic sections, The locus of the midpoint of the chords of an ellipse which...

The locus of the midpoint of the chords of an ellipse which are drawn through an end of minor axis is called

PROBABILITY.., Urn A contains 1 white,2 black and 3 red balls;Urn B contain...

Urn A contains 1 white,2 black and 3 red balls;Urn B contains 2 white,1 black and 1 red balls;and Urn C contains 4 white,5 black and 3 red balls.One urn is chosen at random and two

High dimensions, List the five most important things you learned about high...

List the five most important things you learned about high dimensions.

Derive a boolean first-order query, Consider a database whose universe is a...

Consider a database whose universe is a finite set of vertices V and whose unique relation .E is binary and encodes the edges of an undirected (resp., directed) graph G: (V, E). Ea

Mortgages, compute the monthly payment on a 30 year level payment mortagage...

compute the monthly payment on a 30 year level payment mortagagesasuming an annual mortgages principal of $400000

Alzebra, how can i memorize the formulas

how can i memorize the formulas

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