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RMI 300 UPDATED Exam Questions and CORRECT Answers
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random variablevariables whose outcomes are uncertain and can have different values how to develop probability distributions1) identify all possible outcomes 2) calculate probabilities for all possible outcomes collectively exhaustiveaccount for all possibilities mutually exclusivedefine so that the occurrence of one outcome precludes the occurrence of any other discrete distributionwhen variables are integers, that is, distinct values (frequency) continuous distributionwhen any value under curve possible (severity)
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