A random variable that can take only a certain specified set of individual possible values-for example, the positive integers 1, 2, 3, . . . For example, stock prices are discrete random variables, ...

Discover how probability distribution methods can help predict stock market returns and improve investment decisions. Learn ...

In the world of data analysis and statistics, continuous and discrete data play fundamental roles. These two types of quantitative data serve different purposes as people use them to draw valuable ...

Introduction to probability theory and its applications. Axioms of probability, distributions, discrete and continuous random variables, conditional and joint distributions, correlation, limit laws, ...

Continuous Variable: can take on any value between two specified values. Obtained by measuring. Discrete Variable: not continuous variable (cannot take on any value between two specified values).

Probability theory forms the mathematical backbone for quantifying uncertainty and random events, providing a rigorous language with which to describe both everyday phenomena and complex scientific ...