5.1,5.2,5.3

5.1,5.2,5.3 - Lecture 7 5.1 Discrete Random Variables and...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Lecture 7 5.1 Discrete Random Variables and Probability Distributions 5.2 The Mean and Standard Deviation of a Discrete Random Variable 5.3 The Binomial Distribution Random Variables A random variable is a variable whose value depends on chance. A discrete random variable is a random variable whose possible values can be listed. A continuous random variable is a random variable whose possible values are from an interval. Ex of random variables: the sum of the dice when a pair of fair dice are rolled, the number of puppies in a litter, the return on an investment, and the lifetime of a flashlight battery. Discrete Probability Distribution The probability that a random variable X takes the value x is P(X = x) A probability distribution of a random variable is a list of the possible values and corresponding probabilities. A probability histogram is a graphical representation of the probability distribution. The sum of discrete random variables is always 1.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/21/2010 for the course ECON N/A taught by Professor Bognar,k. during the Winter '10 term at UCLA.

Page1 / 3

5.1,5.2,5.3 - Lecture 7 5.1 Discrete Random Variables and...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online