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Random Variables

In: Elementary Probability Theory

Author

Listed:
  • Melvin Hausner

    (New York University, Washington Square and University College)

Abstract

Roughly speaking, a random variable is a number whose value is determined by the outcome of an experiment. It is a variable because it can be one of several numbers; it is random because the actual number depends on a probability experiment. Random variables have been part of probability theory since its beginnings, because they are invariably part of a gambling situation. For example, consider the following game in which 2 dice are tossed. The player wins $10 if both dice are 6 and he wins $1.00 if only 1 of the dice is 6. But he loses $1.00 if no 6 appears. Here the amount W of winnings in dollars is a random variable. The value of W can be 10, 1, or −1, depending on the outcome of the experiment.

Suggested Citation

  • Melvin Hausner, 1995. "Random Variables," Springer Books, in: Elementary Probability Theory, chapter 0, pages 153-205, Springer.
    • Handle: RePEc:spr:sprchp:978-1-4615-1753-5_5
    DOI: 10.1007/978-1-4615-1753-5_5
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