Random Variables: An Intermediate Course

Course Description

Dive deep into the fascinating world of random variables with this intermediate-level course offered by GTx. This comprehensive program explores the properties and applications of both discrete and continuous random variables, equipping you with the essential tools for a wide range of modeling and analysis problems. As you progress through the course, you'll develop a strong foundation in probability theory and statistics, preparing you for more advanced studies in the field.

What Students Will Learn

  • Identify and differentiate between discrete and continuous random variables
  • Analyze properties of random variables, including expected value, variance, and moment generating functions
  • Apply functions of random variables in computer simulations
  • Work with joint (two-dimensional) random variables and extract marginal and conditional information
  • Understand and implement concepts of independence and correlation
  • Utilize the R statistical package for calculations and analysis

Prerequisites

To succeed in this course, students should have:

  • Basic knowledge of set theory and calculus
  • Familiarity with the material from the first course in the series (A Gentle Introduction to Probability)
  • Some experience with computer programming (e.g., Excel)

Course Content

Univariate Random Variables

  • Introduction to discrete and continuous random variables
  • Cumulative distribution functions
  • Expected values, moments, and variance
  • Moment generating functions
  • Probability inequalities
  • Functions of random variables
  • Inverse transform theorem

Bivariate Random Variables

  • Marginal and conditional distributions
  • Independent random variables
  • Random samples
  • Conditional expectation
  • Covariance and correlation
  • Advanced topics in bivariate functions of random variables

Who This Course Is For

  • Students pursuing advanced studies in mathematics, statistics, or data science
  • Professionals in fields such as finance, engineering, or research who need to apply probability theory in their work
  • Anyone interested in deepening their understanding of random variables and their applications in real-world scenarios

Real-World Applications

  • Financial modeling and risk assessment
  • Quality control in manufacturing processes
  • Predicting customer behavior in marketing
  • Analyzing scientific experiments and research data
  • Developing more accurate weather forecasting models
  • Optimizing supply chain and logistics operations
  • Improving machine learning algorithms and artificial intelligence systems

Syllabus

Module 1: Univariate Random Variables

Lessons 1-12 covering topics from introduction to honors bonus results

Module 2: Bivariate Random Variables

Lessons 1-17 covering topics from introduction to honors bivariate functions of random variables

Throughout the course, students will engage with the R statistical package, enhancing their practical skills in data analysis and probability calculations. This combination of theoretical knowledge and practical application makes the course an invaluable asset for anyone looking to advance their career or academic pursuits in fields related to data analysis, statistics, and probability.