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, ...

The Virginia Lottery offers a game called the New Year's Millionaire Raffle for which the top prize is one million dollars. There are 375,000 tickets sold, of which 508 are winners. There are three ...

Abstract: In this chapter, we introduce the concept of a random variable and develop the procedures for characterizing random variables, including the cumulative distribution function, as well as the ...

Abstract: As the Gaussian distribution is the most widely used distribution, all its major aspects are extensively discussed in this chapter. We then highlight that the Gaussian distribution is also ...

In a raffle with 20 tickets, 6 tickets are drawn for prizes. The first prize winner gets $\$20$, 2 second prize winners get $\$10$, and three third prize winners get $\$5$. What is the sample space ...

What Is A Probability Density Function? A probability density function, also known as a bell curve, is a fundamental statistics concept, that describes the likelihood of a continuous random variable ...

Forecasting for any small business involves guesswork. You know your business and its past performance, but you may not be comfortable predicting the future. Using Excel is a great way to perform what ...