What is the Random Variable Calculator?

The Random Variable Calculator is a tool that helps users analyze a discrete random variable by calculating its expected value, variance, and standard deviation. By entering all possible outcomes and their corresponding probabilities, the calculator provides a complete statistical summary of the random variable. This is useful for students, teachers, and anyone studying probability, statistics, or risk analysis to understand the distribution, average outcome, and spread of a random variable.

How to Use:

1. Enter Outcomes: Input all possible outcomes of the random variable, separated by commas (e.g., 1, 2, 3, 4).
2. Enter Corresponding Probabilities: Input the probabilities for each outcome, separated by commas. Ensure all probabilities are between 0 and 1 and that their sum equals 1.
3. Click “Calculate”: The calculator computes the expected value E[X], variance Var(X), and standard deviation SD(X) of the random variable.
4. Review Result: The output shows all outcomes, probabilities, the expected value, variance, standard deviation, and provides a clear interpretation of the variable’s distribution.