How do I summarize the possible outcomes of a random variable and their associated probabilities?
1 Answer
It depends on the kind of random experiment you are going to conduct.
Explanation:
Tossing two coins is a random experiment. It outcome are -
Head on first coin Head on second coin - HH
Head on first coin Tail on second coin - HT
Tail on first coin Head on second coin - TH
Tail on first coin Tail on second coin - TT
{HH, HT, TH, TT}
It can be applied to a real life situation. Suppose two sales people are sent to accomplish sales. [This again is a random experiment. Its equivalent is tossing two coins.] Their outcome can be summarized as -
1st Sales Man Success 2nd Sales Man Success - SS
1st Sales Man Success 2nd Sales Man Fail - SF
1st Sales Man Fail 2nd Sales Man Success - FS
1st Sales Man Fail 2nd Sales Man Fail - FF
{ SS, SF, FS, FF}
This is how You can summarize the outcomes.
First try with simple experiment then move to advanced experiments.
