We are playing a game. I randomly say a whole number and if you guess its parity(odd or even) correctly, we spin a wheel which signifies the money you are going to win. (distributed uniformly randomly between 0 and 1000 Rupees). And if your guess is wrong, you must give me 200 rupees. Your profit is determined by the random variable ?. Find and graph the distribution of ? (CDF) and hence determine the probability of you not winning at least 500 rupees
Continuous Probability Distributions
Probability distributions are of two types, which are continuous probability distributions and discrete probability distributions. A continuous probability distribution contains an infinite number of values. For example, if time is infinite: you could count from 0 to a trillion seconds, billion seconds, so on indefinitely. A discrete probability distribution consists of only a countable set of possible values.
Normal Distribution
Suppose we had to design a bathroom weighing scale, how would we decide what should be the range of the weighing machine? Would we take the highest recorded human weight in history and use that as the upper limit for our weighing scale? This may not be a great idea as the sensitivity of the scale would get reduced if the range is too large. At the same time, if we keep the upper limit too low, it may not be usable for a large percentage of the population!
We are playing a game. I randomly say a whole number and if you guess its parity(odd or even) correctly, we spin a wheel which signifies the money you are going to win. (distributed uniformly randomly between 0 and 1000 Rupees). And if your guess is wrong, you must give me 200 rupees. Your profit is determined by the random variable ?. Find and graph the distribution of ? (CDF) and hence determine the
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