Abstract: This paper presents exact formulas for the probability distribution function (PDF) and moment generating function (MGF) of the sum-product of statistically independent but not necessarily ...
Abstract: Monte Carlo simulation has been widely used as a standard tool for estimating expectations. In this paper we develop a variance reduction technique for a particular case when the expectation ...
If the probability that a randomly selected person will vote in the next election is 0.39, how would we find the probability that more than half of the people in a sample of 1000 will vote? Since the ...