Chapter 53. An Introduction to Random Variables
What is a random variable?
What is a discrete random variable?
What are the mean, variance, and standard deviation of a random variable?
What is a continuous random variable?
What is a probability density function?
What are independent random variables?
In todayâs world, the only thing thatâs certain is that we face a great deal of uncertainty. In the next nine chapters, Iâll give you some powerful techniques that enable you to incorporate uncertainty in business models. The key building block in modeling uncertainty is an understanding of how to use random variables.
What is a random variable?
Any situation whose outcome is uncertain is called an experiment. A random variable is a function that ...
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