Hi Every, Its my 1st post on this forum and would like to know some basics of Stochastic Process. One of which is Probability density function (PDF).
1. what is a PDF and what information can be extracted from a given PDF.
2. Could be nice if example is illustrated as daily weather forecast or daily electricity usage in a certain area.
Reason: currently I have a yearly data of Electricity market, I am thinking of possible arrangements. One that I did was: collect data of every sunday of every week i.e 53 sundays per year as shown in the pic.... what could be other possibilities)
3. from the given pic above, how can I define a PDF (what component do I need)