Certain variables contained in a company's annual report are continuous random variables. What is the best...

Certain variables contained in a company's annual report are continuous random variables. What is the best example of a continuous random variable from a Fortune 500 company annual report?

number of company facilities in Alaska

number of top executives

energy usage at all facilities

number of corporate jets owned

Solutions

Expert Solution

A continuous random variable is a random variable where the data can take infinitely many values. For example, a random variable measuring the time taken for something to be done is continuous since there are an infinite number of possible times that can be taken.

For any continuous random variable with probability density function f(x), we have that:

This is a useful fact.

Therefore the energy usage at all facilities is the best example of a continuous random variable from a Fortune 500 company annual report.

the probability for {\displaystyle X} to take any single value {\displaystyle a} (that is, {\displaystyle a\leq X\leq a}) is zero, because an integral with coinciding upper and lower limits is always equal to zero. A variable that satisfies the above is called continuous random variable.

ekkarill92 answered 1 year ago

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