ECON 4400 Lecture Notes - Lecture 4: Sample Space

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17 Sep 2020

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Definerandom variable theopportunity atIas org

aRVis avariablewhose numerical value is determined

by chance

this does not mean theoutcomeis unpredictable

Example

nthe outcome that one guy afterrolling adi ce

yngenderof aperson in asurvey

2nstudent'sgradeon the exam

Definition

aRVhey an outcome asamplespace an event

outcome the mutuallyexclusive result of aRV

Samplespace the set of all possibleoutcomes

event asubset of the samplespace It can beeither

asingleoutcome or severaloutcomes

Theprobabilityof an outcome is the proportionofthetime

lthatohtcomeoccursihthelory.ru

How can we summarize aRV

equation

table

graph

Define

Theprobdistributionof adiscrete RVis alist of

all possibleoutcomes of that variable associated

prob ofeach outcome

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