What is a probability model?

**Homework: **Chapter 16 # 1,5,21,25,29, Read chapter 16

**Vocabulary:** random variable, discrete random variable, continuous random variable, expected value, probability model, variance

**Study Questions:**

- What is a random variable?
- What is the meaning of expected value and how is it affected by addition of a constant? multiplication by a constant?
- How is standard deviation affected by the addition of a constant? multiplication by a constant?
- How do we add or subtract random variables?
- What is a probability model and how would you create one for a discrete random variable?

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