Random Variable

Random Variable
A variable whose value is unknown or a function that assigns values to each of an experiment's outcomes. Random variables are often designated by letters and can be classified as discrete, which are variables that have specific values, or continuous, which are variables that can have any values within a continuous range.

Consider an experiment where a coin is tossed three times. If X represents the number of times that the coin comes up heads, then X is a discrete random variable that can only have the values 0,1,2,3 (from no heads in three successive coin tosses, to all heads). No other value is possible for X.

An example of a continuous random variable would be an experiment that involves measuring the amount of rainfall in a city over a year, or the average height of a random group of 25 people.

Investment dictionary. . 2012.

Look at other dictionaries:

  • random variable — n. Statistics a variable whose values are determined independently according to a probability distribution …   English World dictionary

  • Random variable — A random variable is a rigorously defined mathematical entity used mainly to describe chance and probability in a mathematical way. The structure of random variables was developed and formalized to simplify the analysis of games of chance,… …   Wikipedia

  • random variable — Intuitively, a variable, such as height, that can take various values in a population, and such that some values have some probability of occurrence, and others a different probability (for example, there might be a probability of one in ten that …   Philosophy dictionary

  • random variable — Statistics. a quantity that takes any of a set of values with specified probabilities. Also called variate. [1935 40] * * * In statistics, a function that can take on either a finite number of values, each with an associated probability, or an… …   Universalium

  • random variable — atsitiktinis kintamasis statusas T sritis automatika atitikmenys: angl. random variable vok. Zufallsvariable, f rus. случайная переменная, f pranc. variable aléatoire, f …   Automatikos terminų žodynas

  • random variable — noun a variable quantity that is random (Freq. 11) • Syn: ↑variate, ↑variant, ↑stochastic variable, ↑chance variable • Derivationally related forms: ↑vary (for: ↑ …   Useful english dictionary

  • random variable — noun a) A quantity whose value is random and to which a probability distribution is assigned, such as the possible outcome of a roll of a dice. b) A measurable function from a sample space to the measurable space of possible values of the… …   Wiktionary

  • Random variable — A function that assigns a real number to each and every possible outcome of a random experiment. The New York Times Financial Glossary …   Financial and business terms

  • random variable — A function that assigns a real number to each and every possible outcome of a random experiment. Bloomberg Financial Dictionary …   Financial and business terms

  • random variable — an outcome of a random process that has a numerical value …   Medical dictionary