Question

In: Statistics and Probability

The following variables are of interest to security analysts. Which are discrete and which are continuous...

  1. The following variables are of interest to security analysts. Which are discrete and which are continuous random variables?

    1. The quarterly earnings of a particular firm

    2. The number of new products introduced per year by a firm

    3. The number of defective parts in a shipment of nuts and bolts

    4. The amount of ink used in printing a Sunday edition of the New York Times

Solutions

Expert Solution

Discrete variables are countable in a finite amount of time. For example, you can count the change in your pocket. You can count the money in your bank account. You could also count the amount of money in everyone’s bank accounts. It might take you a long time to count that last item, but the point is—it’s still countable.

Continuous Variables would (literally) take forever to count. In fact, you would get to “forever” and never finish counting them. For example, take age. You can’t count “age”. Why not? Because it would literally take forever. For example, you could be:
25 years, 10 months, 2 days, 5 hours, 4 seconds, 4 milliseconds, 8 nanoseconds, 99 picosends…and so on.

So we can say that all the variables here that is

The quarterly earnings of a particular firm ,The number of new products introduced per year by a firm, The number of defective parts in a shipment of nuts and bolts and The amount of ink used in printing a Sunday edition of the New York Times all are countable so all are discrete variables.


Related Solutions

Which of the following variables are discrete variables and which are continuous variables? (a) the number...
Which of the following variables are discrete variables and which are continuous variables? (a) the number of heads showing up in 12 tosses of a coin (b) the number of accidents that occur at a busy intersection in Phoenix (c) the amount of snowfall in Denver during January (d) the lifetime of a car battery
Which of these variables are discrete variables, and which are continuous random variables?
Which of these variables are discrete variables, and which are continuous random variables?The number of new accounts established by a salesperson in a year.The time between customer arrivals to a bank automatic teller machine (ATM).The number of customers in Big Nick’s barber shop.The amount of fuel in your car’s gas tank last week.The outside temperature today.
Which of the following are continuous variables, and which are discrete? (a) speed of an airplane...
Which of the following are continuous variables, and which are discrete? (a) speed of an airplane continuous discrete (b) age of a college professor chosen at random continuous discrete (c) number of books in the college bookstore continuous discrete (d) weight of a football player chosen at random continuous discrete (e) number of lightning strikes in Rocky Mountain National Park on a given day continuous discrete
Which of these variables are discrete and which are continuous? The number of freshman enrolled at...
Which of these variables are discrete and which are continuous? The number of freshman enrolled at University. The time a student spends in Starbucks. The number of students who are in chapel The temperature inside the Rec Center GPA of an athlete at LCU
For the following types of values, designate discrete variables (D) and continuous variables (C): (a) weight...
For the following types of values, designate discrete variables (D) and continuous variables (C): (a) weight of the contents of a package of cereal, (b) diameter of a bearing, (c) number of defective items produced, (d) number of individuals in a geographic area who are collecting unemployment benefits, (e) the average number of prospective customers contacted per sales representative during the past month, (f) dollar amount of sales.
Classify each of the following random variables as discrete or continuous. a) The time left on...
Classify each of the following random variables as discrete or continuous. a) The time left on a parking meter So, we want to ask do we COUNT the time left on the parking meter or do we MEASURE it. We measure the time, so measuring is continuous. b) The number of bats broken by a major league baseball team in a season We can count the number of physical bats there broken during a season. Since we can COUNT it,...
Name if the following are discrete or continuous variables. Also name if the scenario is ratio,...
Name if the following are discrete or continuous variables. Also name if the scenario is ratio, ordinal, nominal, or interval   The different heights of children in a fourth-grade class- The divisions of the American League in Major League Baseball- The number of pennies sitting in a jar- The time taken to deliver newspapers on a delivery route- Your age relative to the average age of other students in the class- The level of pain a patient indicates on a pain...
Name if the following are discrete or continuous variables. Also name if the scenario is ratio,...
Name if the following are discrete or continuous variables. Also name if the scenario is ratio, ordinal, nominal, or interval   The different heights of children in a fourth-grade class- The divisions of the American League in Major League Baseball- The number of pennies sitting in a jar- The time taken to deliver newspapers on a delivery route- Your age relative to the average age of other students in the class- The level of pain a patient indicates on a pain...
Determine if the following random variables are discrete or continuous. Explain your answer thoroughly. (a) The...
Determine if the following random variables are discrete or continuous. Explain your answer thoroughly. (a) The number of blades of grass on a football field. (b) The mass, in pounds, of a football player on the field.
3. Classify each of the following variables as either qualitative, quantitative discrete, or quantitative continuous. (a)...
3. Classify each of the following variables as either qualitative, quantitative discrete, or quantitative continuous. (a) The amount of time it takes to assemble a piece of furniture from IKEA. (b) The number students who identify as female in STAT 2507 B during the Summer 2020 semester. (c) The province or territory where somebody lives in Canada. (d) The weight of a newborn infant. (e) A person’s lucky number. (e.g. My lucky number is 5.)
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT