Chapter 7

Question 1

Random Variable

Answer 1

a quantitative variable whose value depends on chance

Question 2

Probability distribution

Answer 2

a listing of the possible values of a random variable and their corresponding probabilities (or a formula for these probabilities)

Question 3

Discrete random variable

Answer 3

a quantitative variable whose value depends on chance and can be listed (can only take on certain values, usually whole numbers).
* Often symbolized by a capital letter, e.g., X

Question 4

Mean (= Expected Value) of a Discrete Random Variable

Answer 4

The mean or expected value of a discrete random variable X is denoted as μ or E(X),

Question 5

Linear Transformations of a Random Variable

Answer 5

If a random variable X is multiplied by a constant a and a constant c is added or subtracted, the expected value and variance will be as follows