Why random variable is called random?

Disscuss with fellow Actuarial forum members about what is being asked in Actuarial Interviews
Post Reply
User avatar
Posts: 51
Joined: 08 Nov 2017, 11:25
Status: Offline

23 Jul 2018, 00:01

First we need to understand what is variable,
A variable is a value that needed to be find out it is generally denoted by "x" in algebra. The value/es we find are definite and certain.

The random variable is a probability, we are not sure that this Probability is same as the actual case, so we use word random since the values are calculated using a function, the value is definite but being a probability it is not certain.

Sent from my Redmi Note 5 Pro using Actuarial Info mobile app

Post Reply