Two Old Statistical Methods in a New Stochastic Outfit

Zhai Xiaomin
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Zhai Xiaomin: Institute of Mathematics, University of Würzburg, Sanderring 2, D-97070 Würzburg, Germany

Stochastics and Quality Control, 2008, vol. 23, issue 1, 29-38

Abstract: The so-called confidence interval for the first moment (expectation) of a random variable X based on the t-distribution and the confidence interval for the variance based on the χ2-distribution are two very important statistical methods. They allow to determine the value μ of E[X] and the value σ2 of V[X] for given confidence level β. These two statistical methods fit perfectly well into the stochastic approach and, therefore, they are used here to illustrate stochastic measurement procedures.The first moment E[X] and the variance V[X] of a random variable X are of utmost importance and, therefore, stochastic β-measurement procedures for them are crucial for developing a stochastic model for a given random variable. In this paper the two statistical methods are used for deriving stochastic procedures.

Date: 2008
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DOI: 10.1515/EQC.2008.29

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