Question

Give an example of a real life event that would occur as a discrete random variable. Discuss why would it be valuable to estimate the probability of such an event occurring.

Answer 1

An example of discrete random variable would be the probabilities of recieving number of calls(say 0 to 10) by a customer care executive in one hour in a day.

Suppose we are operating a call centre, based on the probabilities of number of calls it can be identified whether there is a requirement of more customer care executives or less or the present number is sufficient. Thus, these probabilities of discrete number of calls would help us to forecast the expected number of calls and hence help us to find number of executives required in the centre.