$\def \bb#1{{ \mathbb{#1} }}$ $\def \P#1{{ \mathbb{P} \left(#1\right) }}$ $\def \E#1{{ \mathbb{E} \left(#1\right) }}$ $\def \Var#1{{ \text{Var} \left(#1\right ...

### [1. Continuous Probability Variable](https://sites.nicholas.duke.edu/statsreview/continuous-probability-distributions/) : A probability variable in which the X ...

Continuous Variable: can take on any value between two specified values. Obtained by measuring. Discrete Variable: not continuous variable (cannot take on any value between two specified values).

Amusement park patrons, wanting to go on a log ride, might not have to wait in line at all, they might have to wait for hours, or the wait could be anywhere in between. For a random log rider, the ...

The Virginia Lottery offers a game called the New Year's Millionaire Raffle for which the top prize is one million dollars. There are 375,000 tickets sold, of which 508 are winners. There are three ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Julie Young is an experienced financial writer and editor. She specializes in financial analysis in capital planning and investment management. Suzanne is a content marketer, writer, and fact-checker.

A discrete random variable is a type of random variable that can only take on a countable number of distinct values. A discrete random variable is a variable whose possible values are distinct and ...