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A random variable or stochastic variable is a value that is subject to chance variation (i.e., randomness in a mathematical sense).
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When to use which random variable?
Given a population ($\Omega,A,P$) and a random variable $X : \Omega \to \mathbb{R}$ defined on it, we want to predict the distribution of $X$ intuitively.Once we know that $X$ follows a particular di …