Example 1: A coin is flipped. Random variable X takes the value 1 if the coin lands heads, and X takes the value 0 if the coin shows tails. Example 2: Three balls are drawn without replacement from a ...

A random variable that can take only a certain specified set of individual possible values-for example, the positive integers 1, 2, 3, . . . For example, stock prices are discrete random variables, ...

Stochastic dominance (SD) theory is concerned with orderings of random variables by classes of utility functions characterized solely in terms of general properties. This paper discusses a type of ...

The main property of a discrete joint probability distribution can be stated as the sum of all non-zero probabilities is 1. The next line shows this as a formula. The marginal distribution of X can be ...

Several theorems are stated which are useful in establishing whether a given sequence of averages of independent but not identically distributed random variables does or does not satisfy the weak ...

Stochastic dynamical systems arise in many scientific fields, such as asset prices in financial markets, neural activity in ...