chance variable


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Related to chance variable: stochastic variable
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Noun1.chance variable - a variable quantity that is randomchance variable - a variable quantity that is random  
variable quantity, variable - a quantity that can assume any of a set of values
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References in periodicals archive ?
The Chance variable shows that students who believe that their lives are controlled by chance, luck, or fate have a lower academic performance when compared to other students without this feature, showing that the student must study to have good performance, and not just believe in luck or fate.
Generally, in the traditional trees chance nodes precede decision nodes only if the value of the chance variable is known to the decision maker when selecting an alternative.
A random variable takes on a definite value or property for each elementary event we are interested in (also called a chance variable or a stochastic variable).