Last week we focused on discrete random variables, and this week we will do the same thing for continuous random variables. The difference is simple. A discrete random variable can take on only discrete values (if numeric these would be whole numbers; if alphanumeric they can be words, names, etc.). On the other hand, a continuous random variable can take on any numeric value with no restrictions. Continuous random variables are found in such real world applications as figuring out the expected lifetimes of manufactured parts, evaluating standardized college and graduate school entrance exams like SAT, PSAT, GMAT, etc., and predicting the behavior of populations which are normally distributed for some variable (e.g., travel times, grades, genetic anomalies, etc.).

This week let's talk about continuous random variables and how they are used in business, science and/or the military. What are some typical real world situations where you find continuous random variables being used? Pick one such situation and describe it in some detail. What was the most interesting thing you learned about how continuous random variables are being used?

Please try, if possible, to pick a situation to discuss that nobody else has explored in depth yet. Put the application you chose to explore in the subject line heading of your initial post (for example, "Continuous random variables used to predict airport wait times").