A random variable is a rule that assigns a numerical value to each outcome in a sample space. Random variables may be either discrete or continuous. A random variable is said to be discrete if it assumes only specified values in an interval. Otherwise, it is continuous.
Types of Random Variable
As discussed in the introduction, there are two random variables, such as:
- Discrete Random Variable
- Continuous Random Variable
Discrete Random Variable
- A discrete random variable can take only a finite number of distinct values such as 0, 1, 2, 3, 4, … and so on.
- The probability distribution of a random variable has a list of probabilities compared with each of its possible values known as probability mass function.
- The probability of any event in an experiment is a number between 0 and 1, and the sum of all the probabilities of the experiment is equal to 1.
- Examples of discrete random variables include the number of outcomes in a rolling die, the number of outcomes in drawing a jack of spades from a deck of cards and so on.