The document defines key statistical concepts:
1) A sample space contains all possible outcomes of an experiment, while an ensemble consists of many similar systems with variables held fixed.
2) A probability density function gauges the likelihood of discrete outcomes, while a probability distribution function describes the probability of continuous variables falling within a range.
3) The mean value is the average of values divided by the total, and variance measures how much values differ from the mean.
4) A bivariate distribution function shows the probability of each combination of values for two random variables.
The document defines key statistical concepts:
1) A sample space contains all possible outcomes of an experiment, while an ensemble consists of many similar systems with variables held fixed.
2) A probability density function gauges the likelihood of discrete outcomes, while a probability distribution function describes the probability of continuous variables falling within a range.
3) The mean value is the average of values divided by the total, and variance measures how much values differ from the mean.
4) A bivariate distribution function shows the probability of each combination of values for two random variables.
The document defines key statistical concepts:
1) A sample space contains all possible outcomes of an experiment, while an ensemble consists of many similar systems with variables held fixed.
2) A probability density function gauges the likelihood of discrete outcomes, while a probability distribution function describes the probability of continuous variables falling within a range.
3) The mean value is the average of values divided by the total, and variance measures how much values differ from the mean.
4) A bivariate distribution function shows the probability of each combination of values for two random variables.
1.What is the difference between sample space and an ensemble?
• Sample space - is a collection or a set of possible outcomes of a random
experiment. The sample space is represented using the symbol, “S”. The subset of possible outcomes of an experiment is called events. A sample space may contain a number of outcomes that depends on the experiment.
• An ensemble - consists of a very large number of systems, each constructed to
be a replica on the macroscopic level. We will introduce several types of ensemble in this course depending on which variables are held fixed. Corresponding to each ensemble there is a partition function that represents the average number of states accessible at a given temperature.
2. Define probability density function and probability distribution function
• Probability density functions - are a statistical measure used to gauge the
likely outcome of a discrete value (e.g., the price of a stock or ETF). PDFs are plotted on a graph typically resembling a bell curve, with the probability of the outcomes lying below the curve.
• Probability distribution function - is used to describe the probability that a
continuous random variable and will fall within a specified range. In theory, the probability that a continuous value can be a specified value is zero because there are an infinite number of values for the continuous random value.
3. How are the mean value and variance of a random variable defined?
• MEAN VALUE - is the integral of a continuous function of one or more
variables over a given range divided by the measure of the range.
• Variance of random variable - A measure of spread for a distribution of a
random variable that determines the degree to which the values of a random variable differ from the expected value. 4. What is a bivariate distribution function?
• Bivariate distribution function - a distribution showing each possible
combination of values for two random variables according to their probability of occurrence. For example, a bivariate distribution may show the probability of obtaining specific pairs of heights and weights among college students.