1If our data are continuous then Prx Any single value 2Ri

1.If our data are continuous, then Pr(x = Any single value) = ?

2.Risk and confidence are each a type of what?

3.Since the Binomial is a discrete probability distribution, then the values for r (the number of successes in n trials) must by non-negative integers. Based on n trials, what are the smallest and largest possible values of r?

Solution

1) Pr(x= any single value =a) = integral a to a f(x) dx = 0

2) Risk and confidence are each a type of measures in percentage.

Confidence intervals are defined for a certain percentage.

Risk is defined as below which I would not do or above which. In other words risk is the boundary fixed by an individual or a company or any other for within which they want to play in comfort zone.

3) r = no of successes should be non negative but must not be greater than no of trials.

Hence 0<=r<=n.