Random Variable

A random variable takes on numerical values as a result of random events. It describes a possible outcome (or event) of a chance experiment. If decision variables describing an alternative have known probability distributions, we say that the decision being modeled is stochastic or probabilistic (King 1969; Thomas and Huggett 1980).

Synonyms

stochastic variable

Source Of Description

Malczewski 1999, p. 139

Parent Categories

Variable

Contributor

Keith Reynolds

Last Updated

2008-06-06T00:00:00Z ^^ http://www.w3.org/2001/XMLSchema#dateTime

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References

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