Asked by Sydney Nicole on Sep 24, 2024
When a variable can take on different values
A) it is a random variable
B) it is a dependent variable
C) it is an dummy variable
D) it is an endogenous variable
Random Variable
A variable whose possible values are numerical outcomes of a random phenomenon.
Different Values
The variation in importance, worth, or usefulness that individuals or societies attach to various factors or actions.
- Understand the definition and role of a random variable in determining outcomes.
Learning Objectives
- Understand the definition and role of a random variable in determining outcomes.