This document defines key concepts related to random variables including:
- A random variable is a numerical measure of outcomes from a random phenomenon.
- Probability distributions describe the probabilities associated with random variables.
- Expected value refers to the mean or weighted average of a probability distribution.
- As the number of trials increases, the actual mean approaches the true mean due to the Law of Large Numbers.
- Binomial and geometric distributions model situations with success/failure outcomes and independence between trials.