or an infinite, but countable number of values. The number of patients that have a reduced tumor size in response to a treatment is an example of a discrete random variable that can take on a finite number of values. The number of car accidents...
(b) What is the variance of Y? Expected Value and Variance: The mean or expected value of a random variable is a measure of central tendency and provides the typical value of the random variable. It is calculated as a probabilit...
Learn how to choose the right approach in preparing datasets and employing foundation models. Read the ebook Take the next step Explore the IBM library of foundation models in the IBM watsonx portfolio to scale generative AI for your business with confidence. Footnotes 1 "What is prompt tun...
Where x is the range of the random variable, on which the probability density function is defined. The expected value of a random variable gives the value that occurs on average when repeated for a large number of trials. The expected value of the random ...
In a regression model, the regression coefficient is a measure that tells us how much the dependent variable changes when the independent variable changes by one unit. It represents the average change in the dependent variable for each unit change in the independent variable. ...
A random variable X has a uniform distribution from 30 to 50. What is the value of b such that P(32.8 < X < b) = 0.615? (Give answer to four decimal places.) Uniform Distribution: When defined in a...
Bayesian methods treat parameters as random variables and define probability as "degrees of belief" (that is, the probability of an event is the degree to which you believe the event is true). When performing a Bayesian analysis, you begin with a prior belief regarding the probability distributi...
For example, clustering may help an insurance company identify groups of motor insurance policyholders with a high average claim cost. The purpose behind clustering depends on how a company intends to use it, which is largely informed by the industry, the business unit, and what the company is...
such as the price, influence the movement of an asset. With regression analysis, we want to predict a number, called the response or Y variable. With linear regression, one independent variable is used to explain and/or predict the outcome of Y. Multiple regression uses two or more independe...
Consider how children learn a skill. For example, let’s say you want to teach a toddler to identify the difference between dogs and cats. This starts out with basic pictures and encouragement. Then more variables are introduced, with details such as average sizes, barks versus meows, and be...