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

What is the total balance of an account after 18 months, A certain bank pay...

A certain bank pays 3.4% interest per year for a certificate of deposit, or CD. What is the total balance of an account after 18 months along with an initial deposit of $1,250?

Binary, how to divide a binaries

how to divide a binaries

How far apart are the two boats, Two boats leave the same port at the same ...

Two boats leave the same port at the same time. One travels at a constant speed of 30 km/hr at a bearing of 50° and the other on a bearing of 110° at a constant speed of 26 km/hr.

Numeric patterns, Kelli calls her grandmother every month Kelli also calls ...

Kelli calls her grandmother every month Kelli also calls her cousin.If Kelli calls her cousin in January, how many calls will Kelli have made to her grandmother and her cousin by t

Find the least and greatest number of coins, Marc goes to the store with ex...

Marc goes to the store with exactly $1 in change. He has at least one of each coin less than a half-dollar coin, but he does not have a half-dollar coin. a. What is the least nu

Some general facts about lines, First, larger the number (ignoring any minu...

First, larger the number (ignoring any minus signs) the steeper the line.  Thus, we can use the slope to tell us something regarding just how steep a line is. Next, if the slope

Ann, What was last years salary if after a 3% increase the salary is 35,020...

What was last years salary if after a 3% increase the salary is 35,020?

Multiplying mixed numbers, Q. Multiplying Mixed Numbers? Ans. Mult...

Q. Multiplying Mixed Numbers? Ans. Multiplying mixed numbers is a 3-step process: 1. Convert the mixed numbers to improper fractions 2. Multiply the fractions 3.

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