Continuous Variable: can take on any value between two specified values. Obtained by measuring. Discrete Variable: not continuous variable (cannot take on any value between two specified values).

A continuous r. v. can only hypothetically assume any value on a continuum. When only an approximating discrete r. v. ("discretization") is observable, estimation procedures employing the hypothetical ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Expert judgment elicitation is often required in probabilistic decision making and the evaluation of risk. One measure of the quality of probability distributions given by experts is calibration-the ...

Continuous Variable: can take on any value between two specified values. Obtained by measuring. Covariance: a measure of the direction of the linear relationship between two variables. Discrete ...

Jason Fernando is a professional investor and writer who enjoys tackling and communicating complex business and financial problems. Somer G. Anderson is CPA, doctor of accounting, and an accounting ...

As is well known, the normal distribution is a key tool in probability and statistics. It can be described as a distribution that obeys a universal rule derived from one of the most important theorems ...