Mean and Percentiles for a Continuous Random Variable (VCE SSCE Mathematical Methods): Flashcards

$E(X) = \int_{-\infty}^{\infty} x f(x) \, dx$

$\mu$ (mu)

Long-run average value

$\int_{-\infty}^{\infty} g(x)f(x) \, dx$

$E[g(X)] \neq g[E(X)]$ generally

$aE(X) + b$

Value $p$ where $\int_{-\infty}^{p} f(x) \, dx = q$

Median

$\int_{-\infty}^{m} f(x) \, dx = 0.5$

Divides area exactly in half