5.1,5.2,5.3

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

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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.

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## 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.

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

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