Description Sample space, Field and Probability Measure. Axiomatic definition of Probability. Bayes' theorem. Repeated trials. Continuous and discrete random variables and their probability ...

Discrete variable's values are also "disjoint," so we have the gaps in a discrete variable's probability distribution graph. While the formula for the expected value of a discrete variable may seem ...

Additionally, you will learn about conditional probability, random variables, probability distributions, and real-life applications of probability.

The alias method of Walker is a clever, new, fast method for generating random variables from an arbitrary, specified discrete distribution. A simple probabilistic proof is given, in terms of mixtures ...

In a number of situations we are faced with the problem of determining efficient estimates of the mean and variance of a distribution specified by (i) a non-zero probability that the variable assumes ...

Discover what a log-normal distribution is, its financial applications, and how to calculate it, including using Excel for practical financial analysis.

Explanation: When you roll a die, you either get a 1, 2, 3, 4, 5, or 6. Since there are a finite number of possibilities, the statistic involved is called a discrete random variable.