Random variable


 

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Random variable

An economic or statistical variable that takes on multiple (or a continuum of) values, each with some probability that is specified by a probability distribution (or probability density function).

Random variable

A function that assigns a real number to each and every possible outcome of a random experiment.



Random variable

Similar Matches

Variable costs

Variable costs

Business expenses which vary according to the volume of goods or services sold.


Variable cost

Variable cost

A cost that is directly proportional to the volume of output produced. When production is zero, the variable cost is equal to zero.


Discrete random variable

Discrete random variable

A random variable that can take only a certain specified set of individual possible values-for example, the positive integers 1, 2, 3, . . .


Normal random variable

Normal random variable

A random variable that has a normal probability distribution.


Continuous random variable

Continuous random variable

A random value that can take any fractional value within specified ranges, as contrasted with a discrete variable.


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