Is this a valid way to calculate statistically probable value?

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In summary, the integral from a to infinity of the function f(x) times the function g(x) provides the statistically probable value of any event.
  • #1
30osk
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Good day,

Assume an event with a normally distributed numerical outcome. Call the outcome x. Assume that any outcome less than a particular value (called a) has a value of zero and any outcome greater than a has a value of x-a. Call the probability curve of the normal distribution f(x) and x-a = g(x). I am calculating the statistically probable value of any event as

Integral from a to infinity of [f(x) times g(x)] dx

Is this valid?

I hope that I explained this sufficiently. Thank you for your help.
 
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  • #2
30osk said:
Good day,

Assume an event with a normally distributed numerical outcome. Call the outcome x. Assume that any outcome less than a particular value (called a) has a value of zero and any outcome greater than a has a value of x-a. Call the probability curve of the normal distribution f(x) and x-a = g(x). I am calculating the statistically probable value of any event as

Integral from a to infinity of [f(x) times g(x)] dx

Is this valid?

I hope that I explained this sufficiently. Thank you for your help.

Could be clearer! I think that by "statistically probable value" you mean "expected value" (otherwise, I don't know what you mean by "statistically probable"). If so, yes, the "expected value" of any function g, of a random variable x with probability density function f, is given by
[tex]\int_{-\infty}^\infty f(x)g(x)dx[/tex]
If g(x)= 0 for x< a then that is
[tex]\int_a^\infty f(x)g(x)dx[/tex]
 
  • #3
Thanks for your reply. Your presumption is correct, I think. Since I am ignorant of the teminology of statistics, the following is not an argument but an explanation of why I used those words. I didn't use "expected probability" because I don't expect the value of the event's outcome to be the result of the integral, but the value is calculated based on statistical probabilities.

Thanks again!
 

1. What is considered a valid way to calculate statistically probable value?

A valid way to calculate statistically probable value is through statistical analysis, which involves using mathematical formulas and techniques to measure and analyze data. This can include methods such as hypothesis testing, confidence intervals, and regression analysis.

2. How do you determine if a calculated value is statistically probable?

To determine if a calculated value is statistically probable, statistical tests can be used to compare the calculated value to the expected value based on the data. This can help determine if the calculated value is within the range of what could be expected by chance or if it is significantly different.

3. Can statistical probability be used to predict future outcomes?

No, statistical probability is based on analyzing past data and cannot accurately predict future outcomes. However, it can provide insights and trends that may help inform future decisions.

4. Are there any limitations to using statistical probability in calculations?

Yes, there are limitations to using statistical probability. It is important to carefully select appropriate statistical methods and to consider factors such as sample size, data quality, and potential biases in the data.

5. How can statistical probability be used in different fields of study?

Statistical probability can be used in various fields of study, such as economics, psychology, medicine, and social sciences. It can help researchers make data-driven decisions, identify trends and patterns, and test hypotheses.

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