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MATH177 - Coggle Diagram
MATH177
Continus Random Variables
- The set of values it can take is not countable
- It has a PDF in which its CDF can be obtained from
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Cumulative Density Function
- The function is a non-decreasing function
- As x approaches negative infinity Fx(x) approaches or equals 0
- As x approaches positive infinity Fx(x) approaches or equals 1
Probability Density Function
- f(x) is non-negative for all of x
- Its area under the curve from negative infinity to positive infinity is equal to one
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Probability Language
Sample Space
The set of all possible outcomes in a situation.
An element is a sample point. A subset of a sample space is an event.
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Decision Problems
- Alternative decisions: decision variables D
- The environment: environmental variables X
- Outcomes: indicated by D, X pairs
- Utilities: R(D, X)
- Objective (max, min, optimise): max(d)R(D, X)
- Constraints limits: e.g. D < 10
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Payoff Tables
- Rows are decisions (D)
- Cols are environment variables (X)
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