 | Learning Objectives
(See related pages)
After studying this chapter, you should be able to:
- Distinguish between discrete and continuous random variables.
- Explain how a random variable is characterized by its probability distribution.
- Compute statistics about a random variable.
- Compute statistics about a function of a random variable.
- Compute statistics about the sum of a linear composite of random variables.
- Identify which type of distribution a given random variable is most likely to follow.
- Solve problems involving standard distributions manually using formulas.
- Solve business problems involving standard distributions using spreadsheet templates.
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