What is a random variable?
A random variable is a mathematical concept used in probability theory and statistics. It represents an unknown quantity or event that can take on different values with certain probabilities. Random variables can be discrete or continuous, depending on the type of values they can assume. Discrete random variables can only take on a countable set of distinct values, while continuous random variables can take on any value within a certain range. The behavior of a random variable can be described by its probability distribution, which gives the probabilities associated with each possible outcome. Random variables are essential for modeling and analyzing uncertain events in various fields, including finance, engineering, and the sciences.
This mind map was published on 31 August 2023 and has been viewed 118 times.
