Random Variable and its types with properties

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In statistics, A Random Variable is a set of possible values from a random experiment which is known in advance and the experiment can be repeated underer identical condition. According to Investopedia,

“A random variable is a variable whose value is unknown or a function that assigns values to each of an experiment’s outcomes.”

 

A random experiment is an experiment in which

  • All possible outcomes of the experiment are known in advance.
  • Any performance of the experiment results in an outcome that is not exactly known in advance.
  • The experiment can be repeated under identical condition.
 
 

More precisely we can say that,

There is a rule that assigns a real number to each outcome (sample point) of a random experiment is called a random variable (r.v.). It is governed by a function of the variable. Hence, a it is a real-valued function

X (x) of the elements of the simple space (omega) where x is an element of (omega). Further, the range of the variable will be a set of real values. 

For example

In tossing a coin, x =1, if the coin falls with head, and x= 0 if the coin falls with a tail. The height of persons can be given by X (x)= X, the height is measured in centimetres or inches. A random variable is usually denoted by any of the capital Latin letters X, Y, Z, U, V etc.

 

Different types of random variables

 

Generally, there are two types, namely 

  • Discrete 
  • Continuous

Discrete random variable

 

Say x is a variable, which can take a finite number of values in an interval of the domain, is called discrete random variableFor example, if we toss a coin, the variable can take only two values 0 and 1 assigned to tail and head respectively, i.e.,

X(x)= 0(if x is tail) or 1(if x is head).

 

Continuous

 

Let, A variable X, which can take any value in its domain or in an interval or the union of intervals on the real line, is called Continuous random variable.

 For a conti­nuous variable, the probability of a point is zero, i.e., P (X = x) =0.

Properties of random variable

 

The properties are following,

  • If X is a variable and a,b are any two constants, aX + b is also a random variable.
  • If is a variable, X square is also a variable.
  • If X is a variable, 1/X is also a variable.
  • If X and Y are two variables defined over the same space, Y, X -Y, aX, bY or aby are also random variables where and b are any two constants except that and b both are not zero.
 
 

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