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

Math, A small square is located inside a bigger square. The length of the s...

A small square is located inside a bigger square. The length of the small square is 3 in. The length of the large square is 7m. What is the area of the big square if you take out t

Example of inflection point - set theory and calculus, Need help, Determine...

Need help, Determine the points of inflection on the curve of the function y = x 3

How much do they save if they pay the bill inside 10 days, Oscar's Oil Comp...

Oscar's Oil Company provides customers a 5% discount if they pay their bill within 10 days. The Stevens' oil bill is $178. How much do they save if they pay the bill inside 10 days

Money, What is the formulate of finding commission

What is the formulate of finding commission

1, what''s the beneit of study mathematics ?

what''s the beneit of study mathematics ?

College Algebra, I am looking for a tutor in College Algebra

I am looking for a tutor in College Algebra

Area problem, Area Problem Now It is time to start second kind of inte...

Area Problem Now It is time to start second kind of integral: Definite Integrals.  The area problem is to definite integrals what tangent & rate of change problems are to d

Area with parametric equations - polar coordinates, Area with Parametric Eq...

Area with Parametric Equations In this section we will find out a formula for ascertaining the area under a parametric curve specified by the parametric equations, x = f (t)

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