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 ...

Continuous Variable: can take on any value between two specified values. Obtained by measuring. Covariance: a measure of the direction of the linear relationship between two variables. Discrete ...

Apply arithmetic mean of frequency distribution to find the expected value of a random variable The expected value of discrete random variable as summation of product of discrete random variable by ...

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, ...

This paper shows how to do discrete probability analysis with the new BA 11 PLUS Professional financial calculator. Textbooks in Business Finance do an excellent job illustrating how to do basic time ...