Random Variables

Question 1

What is a random variable?

Difference between discrete random variable and continuous random variable

Answer 1

A random variable is the plausible result of a random experiment

A discreet random variable is one that can take only integer values while a continuous random variable is one that takes valued within an interval

Question 2

Mean

Variance

Answer 2

Mean is expected value= e(x)=ExP(x)

Variance = v(x)= Ex^2 -[E(x)]^2

Question 3

Covariance formula

Answer 3

Cov(x.y)= E(xy) -E(x)-E(y)