STAT211 Chapter Notes - Chapter 5: P16, Penny Stock, Reinforcement
8 Feb 2016
School
Department
Course
Professor
Document Summary
C5: discrete random variables and discrete probability distributions. Random variables: take on values based on the outcome of a chance process. Random: function that assigns a numerical value to each outcome in a sample space of an experiment. Outcome is unpredictable in a short period of time. Don"t know the value of a random variable until we actually carry out experiment/observation: know distribution (what values it can take on, probabilities of the values occurring) Ex. toss a coin 25 times and count the number of heads observed (number of heads is a random variable) Usually denoted with capital letters (x, y, z) o o. Actual outcome is usually denoted with lower case letters. Countable number of possible values, but do not always (0, 1, 2), (11. 2, 12. 7, 14. 2, 15. 7) Can take on an infinite number of possible values: (1, 2, 3 . ) Can take on negative values and non-integer values.
