Probability Distributions

Abstract

A new concept, the random variable, is introduced to exploit fully the power of probability. Discrete random variables, those that take only a finite number of values, are focused upon, along with their associated probability distributions, which are essentially a listing of the values the random variable can take accompanied by their probabilities of occurrence. The concepts of expected value and variance of a random variable are developed. Some particular probability distributions are introduced that relate to types of probability experiments that occur in a variety of situations, most notably the binomial and Poisson (the latter being interpreted as an approximation to the former).