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Discrete Random Variables

In this activity, we introduce the idea of discrete random variables.

A random variable is simply a variable where the value is uncertain. For example, we may record the number of customers entering a store each day. This is a variable. If we are interested in the number of customers who will enter the store tomorrow, this is a random variable. It’s random because the value is uncertain. It’s also a discrete random variable because there is a finite or limited set of values it can take. We’ll describe the idea of random variables more in the next video, but why do we need these?

We need to know what they are and how to deal with them because they pop up throughout everyday life and business. The number of customers entering a store each day is just one example, but it might be important to consider because it would influence the number of staff to service them.

So if they are so common, how do we work with them? We’ll explore that question in the next few videos as well!

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This article is from the free online course:

Data Analytics for Decision Making: An Introduction to Using Excel

Bond University