Financial Risk Manager Part 1
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Consider the following events:
I. Throwing a fair, six-sided die II. The rate at which customers walk into a banking hall per day III. The score of 50 FRM exam candidates in a mock test IV. Tossing a coin V. Picking an orange from a basket containing 10 equally sized oranges
Which of the events above exhibit uniform distributions?
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Community
NNikitesh
A
I, IV, and V
B
I and II only
C
II and III only
D
None of the above
Explanation:
Under the uniform distribution, ALL outcomes are equally likely i.e., they have equal probabilities of occurrence. For example:
- Throwing a fair, six-sided die (I): Each number (1 to 6) has probability 1/6
- Tossing a coin (IV): Head or tail each has probability 0.5
- Picking an orange from a basket containing 10 equally sized oranges (V): Each orange has equal probability of 1/10
Events II and III do not exhibit uniform distributions:
- Rate at which customers walk into a banking hall per day (II): Typically follows a Poisson distribution
- Score of 50 FRM exam candidates in a mock test (III): Typically follows a normal distribution or other non-uniform distribution
Therefore, only events I, IV, and V exhibit uniform distributions.
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