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

Chi-square hypothesis tests as non-parametric test(x2), Chi-square hypothes...

Chi-square hypothesis tests as Non-parametric test(X2) They contain amongst others i.    Test for goodness of fit ii.   Test for independence of attributes iii.  Test

Discovery, i have discovered a formula for finding the radius at any point ...

i have discovered a formula for finding the radius at any point of the graph have i done a good job

Find poq of tangents drawn to the circle, In figure, O is the centre of th...

In figure, O is the centre of the Circle .AP and AQ two tangents drawn to the circle. B is a point on the tangent QA and ∠ PAB = 125 ° , Find ∠ POQ. (Ans: 125 o ) An s:

Evaluate the volume of the shaded region, If the hight of pipe is 18 inches...

If the hight of pipe is 18 inches, what is the volume of the shaded region in terms of π? a. 31.5π in 3 b. 126π in 3 c. 157.5 in 3 d. 58.5 in 3

Expressing the interest rate as a decimal fraction, Total Contribution per ...

Total Contribution per Year for next 10yeras =$1000+$800 =$1800 So Total Future fund Vaule  =$1800*(1+1.073+power(1.073,2)+ power(1.073,2)+ power(1.073,3)+ power(1.073,4)+ power

Geometry, what are the parts of angles

what are the parts of angles

Show line graphs and histograms, Q. Show Line graphs and Histograms? A...

Q. Show Line graphs and Histograms? Ans. Line graphs are closely related to histograms. Look at the graph below. It shows the line graph of the example above but also in

Calculus, what is the derivatives of y=u/5+7 and u=5x-35 using the chain ru...

what is the derivatives of y=u/5+7 and u=5x-35 using the chain rule?

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