A discrete random variable is a type of random variable that can take on a countable set of distinct values. Common examples include the number of children in a family, the outcome of rolling a die, ...

Julie Young is an experienced financial writer and editor. She specializes in financial analysis in capital planning and investment management. Suzanne is a content marketer, writer, and fact-checker.

A continuous random variable is a type of variable that can take on any value within a given range. Unlike discrete random variables, which have a countable number of outcomes, continuous random ...

This paper considers a class of simultaneous equation models with both discrete and continuous random variables based on normally distributed latent random variables. The model set forth here contains ...

You have been introduced to one example of a discrete random variable, the binomial random variable. Recall that a discrete random variable can only assume a finite number of values. For example, the ...

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, ...

Classifying a variable as a particular type of data is important when considering how to present the data. Data can be presented in a number of ways, which depends on the type of variable and the uses ...