Show all calculations/reasoning Guide to marks: 16 marks - (a) 3, (b) 3, (c1) 3, (c XXXXXXXXXXeach, (d) 3 (a) What is a random variable? What are the various types of random variable? Describe the...

Show all calculations/reasoning
Guide to marks: 16 marks - (a) 3, (b) 3, (c1) 3, (c 2-5) 1 each, (d) 3
(a) What is a random variable? What are the various types of random variable? Describe the difference between them.
(b) What is meant by the term expected value? What does it measure? How is it computed for a discrete probability distribution? Give an example of its calculation.
(c ) Consider the following record of daily sales of cars over the last 100 days