Consider an exponential model for car crashing. Let T be the time in days between the beginning of the year and a car crash. The pdf of T has the form fT(t)=λe-λt for some λ. (a) Given that the probabilty of a crash within the first 30 days is 0.2 Find λ (b) Using this, find the probability of crash with the first 50 days
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!
Consider an exponential model for car crashing. Let T be the time in days between the beginning of the year and a car crash. The
(a) Given that the probabilty of a crash within the first 30 days is 0.2 Find λ
(b) Using this, find the probability of crash with the first 50 days
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