Continuous Variable: can take on any value between two specified values. Obtained by measuring. Discrete Variable: not continuous variable (cannot take on any value between two specified values).

Expert judgment elicitation is often required in probabilistic decision making and the evaluation of risk. One measure of the quality of probability distributions given by experts is calibration-the ...

A continuous r. v. can only hypothetically assume any value on a continuum. When only an approximating discrete r. v. ("discretization") is observable, estimation procedures employing the hypothetical ...

Over the last few decades, Lean Six Sigma has become an integral part of the world of business. It is one of the most ...

The following program creates probability-probability plots and quantile-quantile plots of the residuals (Output 55.8.1 and Output 55.8.2, respectively). An annotation data set is created to produce ...

Andrew Bloomenthal has 20+ years of editorial experience as a financial journalist and as a financial services marketing writer. Samantha (Sam) Silberstein, CFP®, CSLP®, EA, is an experienced ...