Chapter 66. An introduction to random variables
Questions answered in this chapter:
What is a random variable?
What is a discrete random variable?
What is the mean, variance, and standard deviation of a random variable?
What is a continuous random variable?
What is a probability density function?
What are independent random variables?
In today’s world, the only thing that’s certain is that we face a great deal of uncertainty. In the next nine chapters, you find some powerful techniques you can use to incorporate uncertainty in business models. The key building block in modeling uncertainty is understanding how to use random variables.
Answers to this chapter’s questions
This section provides the answers to the questions that are listed at the beginning ...
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