Is price continuous or discrete?

For example, stock prices are discrete random variables, because they can only take on certain values, such as $10.00, $10.01 and $10.02 and not $10.005, since stocks have a minimum tick size of $0.01.

Is price a continuous data?

The variable "cost" is always rounded to 2 decimal places, and that's why it cannot take all possible values in an interval, so this technically should be discrete. But if you measure it accurately it should be treated as continuous.

Is price a discrete data?

Price is a continuous variable because it can be scaled up and down. It lowest unit of measurement is, for example, a cent. Even other continuous variables have lowest units of measurement, not just price.

Is money continuous or discrete?

Because money comes, in clear steps of one cent, it's a discrete variable, as well. In theory, the restaurant could make any amount of money. However, the revenue is still discrete.

Is price of gas discrete or continuous?

A person's weight, gallons of water, the length of a football field, the speed of a car, the temperature of the ocean, price of gas, all must be measured, so they are continuous variables.

Continuous vs Discrete Data

What type of data is price?

Quantitative data deals with numbers and things you can measure objectively: dimensions such as height, width, and length. Temperature and humidity. Prices.

What type of variable is price?

Quantitative data is data where the values can change continuously, and you cannot count the number of different values. Examples include weight, price, profits, counts, etc.

Is time continuous or discrete?

Time is a continuous variable. You could turn age into a discrete variable and then you could count it. For example: A person's age in years.

Is price continuous random variable?

In finance, some variables such as price change of a stock, or the returns earned by an investor are considered to be continuous, even though they are actually discrete, because the number of possible outcomes is large, and the probability of each outcome is very small.

Are stock prices continuous?

For example, stock prices are discrete random variables, because they can only take on certain values, such as $10.00, $10.01 and $10.02 and not $10.005, since stocks have a minimum tick size of $0.01.

What are 5 examples of continuous data?

What are examples of continuous data?

Continuous data is data that can take any value. Height, weight, temperature and length are all examples of continuous data. Some continuous data will change over time; the weight of a baby in its first year or the temperature in a room throughout the day.

What variables are continuous?

Continuous variables

A variable is said to be continuous if it can assume an infinite number of real values within a given interval. For instance, consider the height of a student. The height can't take any values. It can't be negative and it can't be higher than three metres.

How do you know if its discrete or continuous?

A discrete variable is a variable whose value is obtained by counting. A continuous variable is a variable whose value is obtained by measuring.

What is an example of a discrete random variable?

If a random variable can take only a finite number of distinct values, then it must be discrete. Examples of discrete random variables include the number of children in a family, the Friday night attendance at a cinema, the number of patients in a doctor's surgery, the number of defective light bulbs in a box of ten.

Is minutes a continuous variable?

Time is a continuous variable, it can take any positive value in an interval. Even when we measure it in minutes, it can be measured with infinite precision, for example: 0.125 minutes or 0.13333 minutes.

Is age a discrete variable?

Is Age Discrete or Continuous? Technically speaking, age is a continuous variable because it can take on any value with any number of decimal places.

Is weight a discrete variable?

So it is obvious that weight is a continuous variable as it can be quantified with decimal precision;like 10.2 kg and 3.0122 kg.

Which of the following is not a continuous variable?

Solution(By Examveda Team)

Height is not an example of a continuous variable.

What is discrete data example?

When values in a data set are countable and can only take certain values, it is called discrete data. For example, number of students in a class, number of players required in a team, etc. We can easily count the variables in a discrete data.

Is volume discrete or continuous?

Volume is continuous, so the amount of water would be represented by a continuous random variable. The number of minutes is countable, so it would be a discrete variable.

Which variables are always discrete?

Discrete variables are numeric variables that have a countable number of values between any two values. A discrete variable is always numeric. For example, the number of customer complaints or the number of flaws or defects.

What are 3 examples of discrete data?