Preliminary Course in Quantitative Methods - Lectures III-IV September 2008 1 Discrete Random Variables 1.1 RANDOM VARIABLE A random variable associates a numerical value with each outcome of an exper- iment. A random variable is de…ned mathematically as a real-valued function de…ned on a sample space, and is represented as a letter such as X or Y. EXAMPLE: For the experiment of ‡ipping a coin twice, the random variable X is de…ned to be the number of tails to appear
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