Exploring Random Variables

Experiment – any activity, which can be done repeatedly under similar conditions.
Sample space – set of all possible outcomes of an experiment
Variable – is a characteristic or attribute that can assume different values. We use capital letters to denote or
represent a variable.
-latin word variabilis, changeable is a symbol and placeholder for a quantity that may change.
Random Variable – is a function that associates a real number to each element in the sample space. It is a variable
whose values are determined by chance.
Types of Random Variables
Discrete random variable – if its set of possible outcomes is countable such as the number of defective chairs produced
in a factory.
Continuous random variable – if it takes on values on a continuous scale. Often, it represent measured data, such as
heights, weights, and temperatures.
CONSTRUCTING PROBABILITY DISTRIBUTIONS OF A DISCRETE RANDOM VARIABLE
COMPUTING THE MEAN OF A DISCRETE PROBABILITY DISTRIBUTION
COMPUTING THE VARIANCE OF A DISCRETE PROBABILITY DISTRIBUTION

The variance and standard deviation describe the amount of spread, dispersion, or variability of the items in a distribution.