Continuous Random Variables
A continuous random variable is a type of variable that can take on an infinite number of values within a given range. Unlike discrete random variables, which can only assume specific, separate values, continuous random variables can represent measurements such as height, weight, or time. These variables are often described using a probability density function (PDF), which illustrates the likelihood of the variable falling within a particular range.
In statistical analysis, continuous random variables are essential for modeling real-world phenomena. They allow for the calculation of probabilities over intervals rather than specific outcomes. Common examples include the normal distribution and uniform distribution, which help in understanding and predicting behaviors in various fields, including finance and science.