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Discrete Random Variables and Probability Distributions, OBJECTIVES -…
Discrete Random Variables and Probability Distributions
Random Variables
Represents a possible numerical value from a random experiment
Discrete Random Variable
The outcomes of a random experiment is often not a numerical.
Toss a coin: S = {H,T}
Sit for a test: S = {pass, fail}
Interest rate: S = {up, down, unchanged}
Continuous Random Variable
Probability Distribution
P(x) >_ 0 for any value of x
P(x) = 1
Both conditions must be fulfilled to represent the probability distribution of x.
Mean
Variance
Standard Deviation
OBJECTIVES
Defined discrete random variables and probability distributions
Calculate the probability, mean and standard deviation of discrete random variable
Interpret the mean and standard deviation for a discrete random variable
