Random Variables

Definition

In statistics, random variables are variables that can take on different values based on the outcome of a random event or experiment.

Related terms

Probability Distribution: A probability distribution is a function that describes the likelihood of each possible outcome in a random variable.

Discrete Random Variable: A discrete random variable is one that can only take on distinct, separate values.

Continuous Random Variable: A continuous random variable is one that can take on any value within a certain range.