Limit Theorems

Rinaldo B. Schinazi ()
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Rinaldo B. Schinazi: University of Colorado, Department of Mathematics

Chapter Chapter 4 in Probability with Statistical Applications, 2012, pp 99-113 from Springer

Abstract: Abstract Assume that we want to know the mean lifetime of a certain type of battery. A natural way to do that is to pick at random a sample of 100 identical batteries, measure the lifetime for each battery and then compute the average lifetime in our sample. The law of large numbers will show that if the sample is large enough then the sample average should be close to the true mean with high probability. We now formalize these ideas.

Keywords: Mean Lifetime; Chebyshev; Uniform Random Variables; Monte Carlo Integration; Average Grade (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-0-8176-8250-7_4

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DOI: 10.1007/978-0-8176-8250-7_4

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