A discrete random variable is a type of random variable that can take on a countable set of distinct values. Common examples include the number of children in a family, the outcome of rolling a die, ...

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, ...

Continuous random variables can take any value within a range. Unlike discrete variables, they include fractional and decimal values. These variables are often modeled using probability distributions.

In a raffle with 20 tickets, 6 tickets are drawn for prizes. The first prize winner gets $\$20$, 2 second prize winners get $\$10$, and three third prize winners get $\$5$. What is the sample space ...

Colorblindness is caused by a recessive gene on the X chromosome. Since men have only one X chromosome, if a man carries the colorblindness allele (gene form), he will have the trait. Women have two X ...

Discover how probability distribution methods can help predict stock market returns and improve investment decisions. Learn to assess risk and potential gains.