The Aspiring Statistican???s Introduction to Random Variables

In this article, we’ll take a contemplative walk across the land of chance. We’ll learn about random walks, about discrete and continuous random variables, and about their probability distributions. We’ll understand why it’s meaningless to assign a probability to a continuous random variable’s value. And in doing so, we’ll unearth the meaning of probability density. We’ll learn how random processes are formed, and their connection to time series models. We’ll end our itinerant wanderings with a short discussion on how random variables form the substrate of all regression models.

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