Roll a die and ask students to identify the random variable. Since a die can only take on values of 1, 2, 3, 4, 5, or 6, this is a discrete random variable. Repeat ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

A continuous random variable is a type of variable that can take on any value within a given range. Unlike discrete random variables, which have a countable number of outcomes, continuous random ...

A discrete random variable is a type of random variable that can take on a countable set of distinct values. Common examples include the number of children in a family, the outcome of rolling a die, ...

Based on a simple mathematical approach illustrated by a large number of examples, this article deals with the theory of probabilities applied to physical data processing. The concepts of discrete 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.

You have been introduced to one example of a discrete random variable, the binomial random variable. Recall that a discrete random variable can only assume a finite number of values. For example, the ...

A random variable that can take only a certain specified set of individual possible values-for example, the positive integers 1, 2, 3, . . . For example, stock prices are discrete random variables, ...