For a Continuous Random Variable X, the Probability Density Function

question 120

Multiple Choice

For a continuous random variable x, the probability density function f(x) represents

• A)the probability at a given value of x
• B)the area under the curve at x
• C)Both the probability at a given value of x and the area under the curve at x are correct answers.
• D)the height of the function at x

---

Definitions:

Cumulative Probability

The probability that a random variable takes on a value less than or equal to a specific value, aggregating across all previous probabilities.

Random Number Intervals

The ranges between which randomly generated numbers fall, used in simulations and probabilistic analyses.

EOQ Methodology

The Economic Order Quantity method calculates the optimal order size to minimize the costs of holding inventory and stock ordering, balancing demand with inventory costs.