Question: Random Variables: (a) What does it mean to define a random variable? (b) Explain, in your own words, why it is important that we define
Random Variables: (a) What does it mean to "define a random variable"? (b) Explain, in your own words, why it is important that we define a random variable before we do any calculations. (c) When defining a random variable, we have to state the parameters. Define "parameter" using your own words.(Binomial Distribution). Suppose X Bin(n, p). Marcy defines a new random variable, X/n, where n is the same constant integer as in the distribution for X. (a) Use properties of expected value to help Marcy find E(X/n). Fully simplify your answer (should not have an expected value in it). (b) Use properties of variance to help Marcy find V(X/n). Fully simplify your answer (should not have a variance in it)
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