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

Area and perimeter, if perimeter is 300m length is 100m.find the breadth

if perimeter is 300m length is 100m.find the breadth

Trigonometry, important trigonometric formulas for class 10th CBSC board

important trigonometric formulas for class 10th CBSC board

Determine rank correlation coefficient, Determine Rank Correlation Coef...

Determine Rank Correlation Coefficient A group of 8 accountancy students are tested in Quantitative Techniques and Law II.  Their rankings in the two tests were as:

How high is a structure, One method of calculating the height of an object ...

One method of calculating the height of an object is to place a mirror on the ground and then position yourself so that the top of the object will be seen in the mirror. How high i

Algebra 1, pls help me solve this step by step 6*11(7+3)/5-(6-4)

pls help me solve this step by step 6*11(7+3)/5-(6-4)

Decision-making under conditions of certainty, Decision-Making Under Condit...

Decision-Making Under Conditions of Certainty Conditions of certainty tend to be rare, especially when significant decisions are involved. Under conditions of certainty, decis

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