QA 2. Random Variables

Learning Objectives

1) Describe and distinguish a probability mass function from a cumulative distribution function and explain the relationship between these two.

2) Understand and apply the concept of a mathematical expectation of a random variable.

3) Describe the four common population moments.

4) Explain the differences between a probability mass function and a probability density function.

5) Characterize the quantile function and quantile-based estimators.

6) Explain the effect of a linear transformation of a random variable on the mean, variance, standard deviation, skewness, kurtosis, median and interquartile range.