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, ...

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

Classifying a variable as a particular type of data is important when considering how to present the data. Data can be presented in a number of ways, which depends on the type of variable and the uses ...

Discrete data is categorical data, rather than continuous measurements. It can be treated as continuous data, but that depends on the measurements set. It allows you to quantify things like pass/fail ...

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 ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Suzanne is a content marketer, writer, and fact-checker. She holds a Bachelor ...