Random Process – an event or experiment that has a random outcome. Something that you can’t predict accurately. Might know the range of possibilities. e.g. flipping a coin, rolling a die, or playing on a slot machine.
Random Variable (X)
In statistics, a random variable takes random values such as the weight of the next person entering the class or what number comes when we throw a die. For a random variable X, we would like to know the values it can take or more interested in characterizes how likely it is for that variable to take a particular value x. For example, we are not just interested in knowing the numbers that come up when we throw a die but more interested in how likely it is to get 6 when we throw a die.
Or in a simpler way – A variable whose possible values are a numerical outcome of a random process.
P(X=x) – Probability of variable X taking a value x
1. P – Is the variable’s density function & characterizes the variable’s distribution
2. P(X=x) >=0 For any value of x, the probability of X having x can never be less than zero
3. Sum of P(X=x) for all possible values of x is equal to 1
Examples
1. Flipping a Coin
Here X= H, T – then the probability of x = H (Head) can never be more than 1. x = H (Head) can never be less than zero. Also, the sum of probabilities of coming Head & Tails is equal to 1
Probability of coming Head – 0.5
Probability of coming Tails – 0.5
Sum of probabilities = P(H) +P(T) = 0.5 + 0.5 = 1
2. Rolling a Die
X = 1,2,3,4,5,6
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