The meaning of RANDOM VARIABLE is a variable that is itself a function of the result of a statistical experiment in which each outcome has a definite probability of occurrence —called also variate.
The first known use of variable was in the 14th century See more words from the same century Phrases Containing variable dependent variable dummy variable gram-variable independent variable random variable variable rate mortgage variable star Dictionary...
Origin ofrandom variable1 First recorded in1935–40 Discover More Example Sentences Good institutions are not a random variable that could have popped up anywhere around the globe, in Denmark or in Somalia, with equal probability. FromLiterature ...
Two groups of models, namely, models based on differential equations with coefficients being either random variables (random variable models) or stochastic processes (stochastic process models), are analyzed. The reasoning behind these two approaches is discussed and a numerical example illustrating the ...
AirBnB allows for connections: host to guest, guest to city, and any other variable you can think of. FromThe Daily Beast This uncertainty explains why the forecast, while optimistic, is highly variable. FromThe Daily Beast Throughout the process the program throws in random changes in a com...
- infinitesimal variation of a variable quantity induces a corresponding variation of another quantity which is a function of the first variable. Almost a century...- A random variable (also called random quantity, aleatory variable, or stochastic variable) is a mathematical formalization of a ...
If the data is not grouped, then just divide the sum of observations by total number to find the mean. If the data is grouped, then to find the mean, first multiply the mid point of each class by the corresponding frequency first, then divide the sum of all products obtained by the ...
In the formula, Xi is the ithrandom variable, X is the mean of the data series, and N is the number of variables. Following are the steps to calculate CV using the mathematical formula: First, determine the random variables which are part of the data series. These variables will be Xi...
Entropy is a quantitative measure of randomness. Like the concept of noise, entropy is used to help model and represent the degree of uncertainty of arandom variable, such as the prices of securities, in a market. Key Takeaways Entropy refers to the degree of randomness or uncertainty pertaini...
For a dataset to be considered relevant, the majority of the data points must be within a particular number of standard deviations from the mean as described by Chebyshev’s theorem, also known as Chebyshev’s inequality. This provides guidelines regarding the probability of a random variable diff...