Approximation of the moments of the ratio random variables

Approximation of the moments of the ratio random variables

The moments of the ratio of independent random variables arises in many applied problems. Usually, calculation of such moments is deal with some special functions whose numerical computations can be rather tedious. In this paper, we obtain some approximations for the moments of the ratio of random variables using a Taylor series approximation. The methodology is illustrated with two popular models in engineering, the Rice and Normal distributions.