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We introduce the idea of a random variable X: a function on a probability space. Associated to such a function is something called a probability distribution, which assigns probabilities, say p_1,p_2,...,p_n to the various possible values of X, say x_1,x_2,...,x_n. The probabilities p_i have to be in the interval [0,1] and have to sum to 1, while the values x_i can be completely arbitrary. Associated to such a probability distribution, and hence associated to the random variable X, are three important numbers: the mean E(X), the variance Var(X) and the standard deviation SD(X). These are key concepts in statistics. Video Content 00:00 Random variables 07:15 Three numbers associated to a random variable X 17:24 Probability distribution of a random variable 24:37 Example; lottery example 30:55 Expected value / mean 43:30 Variance 47:56 Formula for variance 52:00 Standard deviation ************************ Screenshot PDFs for my videos are available at the website http://wildegg.com. These give you a concise overview of the contents of the lectures for various Playlists: great for review, study and summary. My research papers can be found at my Research Gate page, at https://www.researchgate.net/profile/... My blog is at http://njwildberger.com/, where I will discuss lots of foundational issues, along with other things. Online courses will be developed at openlearning.com. The first one, already underway is Algebraic Calculus One at https://www.openlearning.com/courses/... Please join us for an exciting new approach to one of mathematics' most important subjects! If you would like to support these new initiatives for mathematics education and research, please consider becoming a Patron of this Channel at / njwildberger Your support would be much appreciated. Here are the Insights into Mathematics Playlists: • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист Here are the Wild Egg Maths Playlists (some available only to Members!) • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист • Плейлист ************************