Prob 2.1 Random Variable CFA

Front

What is a random variable?

Back

A random variable is a numerical outcome of a random phenomenon, which can take on different values based on the outcome of a random event.

Front

What are the two types of random variables?

Back

Discrete and continuous random variables.

Front

Define a discrete random variable.

Back

A discrete random variable is one that can take on a countable number of distinct values.

Front

Define a continuous random variable.

Back

A continuous random variable is one that can take on an infinite number of values within a given range.

Front

Example of a discrete random variable.

Back

The number of students in a classroom.

Front

Example of a continuous random variable.

Back

The height of students in a classroom.

Front

What is a probability distribution?

Back

A probability distribution describes how the probabilities are distributed over the values of the random variable.

Front

What are the properties of a probability distribution?

Back

1. All probabilities must be between 0 and 1. 2. The sum of all probabilities must equal 1.

Front

What is a probability mass function (PMF)?

Back

A PMF is a function that gives the probability that a discrete random variable is exactly equal to some value.

Front

What is a probability density function (PDF)?

Back

A PDF is a function that describes the likelihood of a continuous random variable taking on a particular value.