Probability and Statistics II: Random Variables – Great Expectations to Bell Curves
About this Course
This course discusses properties and applications of random variables. When you’re done, you’ll have enough firepower to undertake a wide variety of modeling and analysis problems; and you’ll be well-prepared for the upcoming Statistics courses. We’ll begin by introducing the concepts of discrete and continuous random variables. For instance, how many customers are likely to arrive in the next hour (discrete)? What’s the probability that a lightbulb will last more than a year (continuous)? We’ll learn about various properties of random variables such as the expected value, variance, and moment generating function. This will lead us to a discussion of functions of random variables. Such functions have many uses, including some wonderful applications in computer simulations. If you enjoy random variables, then you’ll really love joint (two-dimensional) random variables. We’ll provide methodology to extract marginal (one-dimensional) and conditional information from these big boys. This work will enable us to study the important concepts of independence and correlation. Along the way, we’ll start working with the R statistical package to do some of our calculations and analysis.Created by: The Georgia Institute of Technology
Level: Intermediate

Related Online Courses
Please Note: Learners who successfully complete this IBM course can earn a skill badge —a detailed, verifiable and digital credential that profiles the knowledge and skills you’ve acquired in thi... more
Please Note: Learners who successfully complete this IBM course can earn a skill badge — a detailed, verifiable and digital credential that profiles the knowledge and skills you’ve acquired in thi... more
Este es el segundo curso de una serie sobre Power BI, es un curso de nivel intermedio en el que ampliarás conocimientos sobre las medidas DAX para poder generar funciones complejas que midan ... more
You may have heard of actuarial science, or you might even know an actuary, but do you know what an actuary does? During the course you’ll hear from a wide variety of actuaries about their c... more
This proctored examination assesses all concepts, methods and techniques introduced across the following four courses within the LSE MicroBachelors program in Statistics Fundamentals: Statistics 1:... more