The first step is to ensure that the given distribution actually is a valid probability distribution. As mentioned earlier, this involves checking two key properties: non-negativity and summation to ...

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 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 ...

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