Random variables are all around us, from the time we require to commute to school, to
the percentage of lecture material we remember for the exam, we can describe much of
the world around us using probability.
Find a random variable in your day-to-day life, call it X(Ï‰) and do the following:
1. Describe X as either quantitative, qualitative, discrete, continuous, etc.
2. Give the support of X (i.e. its possible range of values)
3. Speculate on its distribution. Is it normal, geometric, exponential, etc. Give specific
reasons and justification for this speculation!
4. Sample this random variable at least 5 times.
5. Use this sample to estimate its parameters.
6. Give the newly parameterized distribution explicitly.