What is Random Variable

Today let us understand one more important term in Probability which is Random Variables...

A Random Variable (or stochastic variable) is a measurable function that maps a probability space into a measurable space. Random variables mapping all possible outcomes of an event into the real numbers are frequently studied in elementary statistics and used in the sciences to make predictions based on data obtained from scientific experiments.

Types of Random Variables:

There are two types of Random Variables as follows:

1. Discrete Random Variable
2. Continuous Random Variable

Discrete Random Variable: Random variables which can assume only a finite number, or a countable infinity number of values, are called discrete random variables.
Continuous Random Variable: Random variables which can assume any value over an interval are called Continuous Random Variable.

Random variables mapping all possible outcomes of an event into the real numbers are frequently studied in elementary statistics and used in the sciences to make predictions based on data obtained from scientific experiments.