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#reading-10-common-probability-distributions

A **continuous variable** is one within the limits of variable ranges for which any value is possible. The number of possible values cannot be counted, and, as you will see later, each individual value has zero probability associated with it. For example, the variable "time to solve an anagram problem" is continuous since it could take 2 minutes or 2.13 minutes, etc., to finish a problem. A variable such as a person's height can take on any value as well. The rate of return on an asset is also a continuous random variable since the exact value of the rate of return depends on the desired number of decimal spaces.

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**Subject 1. Basic Definitions**

s not possible to get 54.12 problems correct. The number of movies you will see this year, the number of trades a broker will perform next month, and the number of securities in a portfolio are all examples of discrete variables. <span>A continuous variable is one within the limits of variable ranges for which any value is possible. The number of possible values cannot be counted, and, as you will see later, each individual value has zero probability associated with it. For example, the variable "time to solve an anagram problem" is continuous since it could take 2 minutes or 2.13 minutes, etc., to finish a problem. A variable such as a person's height can take on any value as well. The rate of return on an asset is also a continuous random variable since the exact value of the rate of return depends on the desired number of decimal spaces. Statistics computed from discrete variables are continuous. The mean on a five-point scale could be 3.117 even though 3.117 is not possible for an individual score. &

s not possible to get 54.12 problems correct. The number of movies you will see this year, the number of trades a broker will perform next month, and the number of securities in a portfolio are all examples of discrete variables. <span>A continuous variable is one within the limits of variable ranges for which any value is possible. The number of possible values cannot be counted, and, as you will see later, each individual value has zero probability associated with it. For example, the variable "time to solve an anagram problem" is continuous since it could take 2 minutes or 2.13 minutes, etc., to finish a problem. A variable such as a person's height can take on any value as well. The rate of return on an asset is also a continuous random variable since the exact value of the rate of return depends on the desired number of decimal spaces. Statistics computed from discrete variables are continuous. The mean on a five-point scale could be 3.117 even though 3.117 is not possible for an individual score. &

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