Excel uses the function RAND() to return a random and uniformly distributed number between 0 and 1, every time the worksheet is calculated. If you are analyzing how fluctuations in sales will ...

A random variable is one whose value is unknown or a function that assigns values to each of an experiment’s outcomes. A random variable can be discrete or continuous.

Vector formulation of random variables and their parameters. Mean square estimation and orthogonality principle. Criteria for estimators. Introduction to random processes: distribution and density ...

A continuous distribution refers to a random variable drawn from an infinite set. Examples of continuous random variables include speed, distance, and some asset returns.

Lognormal(μ, σ) is the Lognormal distribution of a variable, such that the natural logarithm of the variable has a N(μ, σ) distribution. Modifications and Alternative Forms: The range of K w may be ...