Random Variables and Expectation
After completing this chapter, you can understand the following:
- The definition, meaning and significance of random variable.
- The concept of expectation and its applications.
- Concept related to probability distribution.
We know that an experiment refers to an activity/measurement that results in an outcome. Clearly, tossing of a single coin is an experiment. When we toss a coin, we don’t know whether it will turn head or tail and the chance of the head is half and the tail is half. An experiment is said to be a random experiment if its outcome depends on chance. A random variable can be defined based on the random experiment. Usually the random variable is used to define ...