Continuous Variable: can take on any value between two specified values. Obtained by measuring. Covariance: a measure of the direction of the linear relationship between two variables. Discrete ...

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

Stochastic dominance (SD) theory is concerned with orderings of random variables by classes of utility functions characterized solely in terms of general properties. This paper discusses a type of ...

Apply arithmetic mean of frequency distribution to find the expected value of a random variable The expected value of discrete random variable as summation of product of discrete random variable by ...