A Random Variable is a variable which is concerned with random variable Probability Theory or we can say in Probability random variable are used for prediction of occurrence of events. Random variable can be defined as variable which obtains its value from measurement on a system and the components of system can vary. A random variable can also be described as a result of an occurring event. The value of random variable is not fixed, value of random variable can vary and it can take different values.
The possible values of random variables are used to represent possible results or outcomes of an event which will occur in future. Random variables are of two types that are discrete and continuous.
Random variable mostly has real values but sometimes it can have complex Numbers, Boolean numbers etc. as its value. Most of the times we use real valued random variables in scientific researches or scientific experiments for making predictions. Random variables are also known as stochastic variables. So we can say that random variable is numeric result or outcome of an event.
Discrete Random variable- Random variables which can accept a finite Set of outcomes are called discrete Random variables.
Continuous Random Variable- Random variable which can accept any number of value are called continuous random variables.
Geometric Probability distribution encompasses distributions of different measurements related to various known figures like Circle, square, rectangle, parallelogram etc. Measurements that can be used for describing use of geometrical Probability Distribution are length, surface or outer area, perimeter and volume given under certain ruling situations....Read More
The concept of Probability is very useful in business, economics and other fields to predict the future to some extent. The words probability, likely etc. that we use in our daily life means happening of an event is not certain. Therefore the probability means chance of happening of an event expressed quantitatively.
Probability is a concept which measures the ...Read More
Random variable is related to Probability in mathematics. It’s also named as stochastic variable and defined as a numerical description of the outcome of an experiment. Since it is a variable so its value is not fixed and its value is the possible outcomes of the performed experiment. Random variables are real- valued Functions but they can also be considered as...Read More
The Mean of discrete random variables is also known as the expected value or expectation or mean or the first moment in the Probability and Statistics, which is a very important branch of mathematics. The mean of Random Variable is basically the average of their weights (all values) that the random variables have. In case of continuous random variable th...Read More
In Probability, when we calculate total number of possible outcomes of certain event, then this process is called as Sample Space and if a function is defined on this sample space, then this function is called as a Random Variable function and values of this random variable function are called as a random variable. Like we select a random player fr...Read More