Chapter 5


1. Random Variables

    a. Discrete Random Variables

        i. Countable units.  There is a finite amount of

           outcomes with probability values

    b. Continuous Random Variables

        i. Infinite units.  There is an infinite amount of

           outcomes.  Usually the random variable is defined

           with an equation where the area under a curve is

           equal to one.


2. Probability Distribution of Discrete Random Variables

    a. Each outcome for the random variable must take on

        a numerical value.

    b. Each outcome is assigned a probability value.

    c. The sum of the probability values must equal one.


3. Mean and Standard Deviation of the Discrete

    Probability Distribution

    a. Mean will now be represented as “mu”.  This is

        used because it represents what occurs in the






    c. The Variance will now be represented as...






4. Binomial Probability Distribution

    a. Binomial occurs when there are two outcomes.

        Success vs. Failure.

    b. Important characteristics for Binomial Probability.

        i. Independent Events

        ii. Set number of trials

        iii. Two possible outcomes

        iv. Probability of events don’t change.
















5. Mean and Variance for Binomial Proability














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