What is a 'Random Variable'
A random variable is a variable whose value is unknown or a function that assigns values to each of an experiment's outcomes. Random variables are often designated by letters and can be classified as discrete, which are variables that have specific values, or continuous, which are variables that can have any values within a continuous range.
BREAKING DOWN 'Random Variable'
Consider an experiment where a coin is tossed three times. If X represents the number of times that the coin comes up heads, then X is a discrete random variable that can only have the values 0,1,2,3 (from no heads in three successive coin tosses, to all heads). No other value is possible for X.
An example of a continuous random variable would be an experiment that involves measuring the amount of rainfall in a city over a year, or the average height of a random group of 25 people.

Sensitivity Analysis
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Shadowing
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LogNormal Distribution
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Markets
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Investing
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Trading
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Markets
Financial Markets: Random, Cyclical Or Both?
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Markets
Stock and Flow Variables Explained: A Closer Look at Apple
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Investing
Find The Right Fit With Probability Distributions
Discover a few of the most popular probability distributions and how to calculate them. 
Retirement
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Find out how variable annuities can help you plan for retirement by offering the returns of the stock market with the guarantee of insurance. 
Financial Advisor
Variable Annuities: The Pros and Cons
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Retirement
Variable Annuities: The Good, The Bad and the Ugly
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ETFs & Mutual Funds
Variable Annuities: The DoItYourself Pension Plan
Variable annuities can cost more than mutual funds, but that might be worth the protection they can add to your retirement.

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