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

Mensuration of plane figures, a sail has a spread of canvas as measured 12'...

a sail has a spread of canvas as measured 12'',12'', 15'' and 9'' and it has 90 degrees. Find the area of one side of the sail

Describe independent events in maths, Describe Independent Events in maths?...

Describe Independent Events in maths? Events are independent if the outcome of one event does not affect the outcome of the second event. If A represents one independent event

Multiplication in decimal notations., Consider the following multiplication...

Consider the following multiplication in decimal notations: (999).(abc)=def132 ,determine the digits a,b,c,d,e,f. solution) a=8 b=6 c=8 d=8 e=6 f=7 In other words, 999 * 877 = 8

Operations research, Solve the following Linear Programming Problem using S...

Solve the following Linear Programming Problem using Simple method. Maximize Z= 3x1 + 2X2, Subject to the constraints: X1+ X2 = 4 X1+ X2 = 2 X1, X2 = 0

Eigenvalues and eigenvectors, Review: Systems of Equations - The tradition...

Review: Systems of Equations - The traditional initial point for a linear algebra class. We will utilize linear algebra techniques to solve a system of equations. Review: Matr

Decision tree analysis, DECISION TREE ANALYSIS The Finance Manager of ‘...

DECISION TREE ANALYSIS The Finance Manager of ‘Softy’ baby soap manufacturing company being successful in the first two years of the company’s operations is considering to set

What is negative exponents explain, What is Negative Exponents explain? ...

What is Negative Exponents explain? Here's a problem which results in a negative exponent: 3 4 /3 7 = 3 (4-7) = 3 -3 A negative exponent means the same thing as making

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