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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Common Probability Distribution Calculations
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Economics
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Investing
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Scenario Analysis Provides Glimpse Of Portfolio Potential
This statistical method estimates how far a stock might fall in a worstcase scenario. 
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Variable Contracts
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Fundamental Analysis
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What variables are most important when making a prediction through sensitivity analysis?
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What is the difference between direct costs and variable costs?
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What are the variables in variable costs?
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What is the "random walk theory" and what does it mean for investors?
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How are variable annuities regulated?
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How liquid are variable annuities?
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