Introductory Econometrics: A Modern Approach 6th Edition by Jeffrey M Wooldridge

Exercise 1

Suppose that a high school student is preparing to take the SAT exam. Explain why his or her eventual SAT score is properly viewed as a random variable.

Step 1 of 2

A random variable is the observation of an experiment that does not have any pre-fixed value. The value of experiment is randomly occurring after the experiment.