What is the importance of random variable in real life?

It’s a function which performs the mapping of the outcomes of a random process to a numeric value. As it is subject to randomness, it takes different values. Why random variables? Random variables allows us to ask questions in mathematical way.

Why is it helpful to know the mean and standard deviation of a discrete random variable?

The expected value, or mean, of a discrete random variable predicts the long-term results of a statistical experiment that has been repeated many times. The standard deviation of a probability distribution is used to measure the variability of possible outcomes.

What is the importance of constructing a probability distribution for a random variable in interpreting data?

This type of distribution is useful when you need to know which outcomes are most likely, the spread of potential values, and the likelihood of different results. In this blog post, you’ll learn about probability distributions for both discrete and continuous variables.

What are the properties of mean and variance?

Mean and variance is a measure of central dispersion. Mean is the average of given set of numbers. The average of the squared difference from the mean is the variance. Central dispersion tells us how the data that we are taking for observation are scattered and distributed.

What is mean and standard deviation of discrete random variable?

What is a random variable and what makes it discrete?

A random variable is a variable taking on numerical values determined by the outcome of a random phenomenon. A discrete random variable has a countable number of possible values. The probability of each value of a discrete random variable is between 0 and 1, and the sum of all the probabilities is equal to 1.

What is the random variable What are its possible values and are its values numerical?

What is the random​ variable, what are its possible​ values, and are its values​ numerical? The random variable is​ x, which is the number of girls in three births. The possible values of x are​ 0, 1,​ 2, and 3. The values of the random value x are numerical.