STAT 101 Lecture Notes - Lecture 11: Independent And Identically Distributed Random Variables, Chocolate Chip Cookie, Bernoulli Distribution
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Stat 101 - introduction to business statistics - lecture 11: random variables. The bernoulli r. v. is the simplest type of random variable you a can get (apart from a constant). It forms a building block for many other random variables. a coin ip is an example of a. Bernoulli trial. a bernoulli rv takes on one of two values. Either a 0 or a 1. sometimes we call the outcomes either a failure or a success. any random variable with a dichotomous outcome, can be thought of. 4 employee stays on the job/ employee quits. You have to equate one level of the outcome to the number 1, and the other to 0. Denote the random variable with the letter b and associate 1 with a success and 0 with a failure. E(b) = 0 (1 p) + 1 p = p. Sd(b) = sqr root (p(1 p))
