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Independent Random Variables

Definition

Independent random variables are two or more variables that have no influence on each other. The outcome of one variable does not affect the outcome of the other variable.

Analogy

Think of independent random variables like two separate dice rolls. The result of rolling one die has no impact on the result of rolling the other die.

Related terms

Joint Probability Distribution: This term refers to the probability distribution that shows the probabilities for all possible outcomes of multiple random variables.

Covariance: Covariance measures how much two random variables vary together. If they are independent, their covariance is zero.

Expected Value: The expected value is a measure of central tendency for a random variable and represents its long-term average value. For independent random variables, the expected value can be calculated by summing up their individual expected values.