Search results
Results from the WOW.Com Content Network
t. e. In economics, discrete choice models, or qualitative choice models, describe, explain, and predict choices between two or more discrete alternatives, such as entering or not entering the labor market, or choosing between modes of transport. Such choices contrast with standard consumption models in which the quantity of each good consumed ...
When the image (or range) of is finitely or infinitely countable, the random variable is called a discrete random variable [5]: 399 and its distribution is a discrete probability distribution, i.e. can be described by a probability mass function that assigns a probability to each value in the image of .
Optimization problem. In mathematics, engineering, computer science and economics, an optimization problem is the problem of finding the best solution from all feasible solutions. Optimization problems can be divided into two categories, depending on whether the variables are continuous or discrete: An optimization problem with discrete ...
The instantaneous rate of change is a well-defined concept that takes the ratio of the change in the dependent variable to the independent variable at a specific instant. This is an image of vials with different amounts of liquid. A continuous variable could be the volume of liquid in the vials. A discrete variable could be the number of vials.
The Pareto distribution, named after the Italian civil engineer, economist, and sociologist Vilfredo Pareto, [2] is a power-law probability distribution that is used in description of social, quality control, scientific, geophysical, actuarial, and many other types of observable phenomena; the principle originally applied to describing the distribution of wealth in a society, fitting the trend ...
In descriptive statistics, the range of a set of data is size of the narrowest interval which contains all the data. It is calculated as the difference between the largest and smallest values (also known as the sample maximum and minimum). [1] It is expressed in the same units as the data. The range provides an indication of statistical dispersion.
CF. ≠ =. In probability theory and statistics, the continuous uniform distributions or rectangular distributions are a family of symmetric probability distributions. Such a distribution describes an experiment where there is an arbitrary outcome that lies between certain bounds. [ 1 ]
State-space representation. In control engineering and system identification, a state-space representation is a mathematical model of a physical system specified as a set of input, output, and variables related by first-order differential equations or difference equations. Such variables, called state variables, evolve over time in a way that ...