A random variable often used in statistics and probability, is a variable that has its possible values as numerical outcomes of a random experiment or phenomenon. It is usually denoted by a capital letter, such as X.

In statistics and probability, random variables are either continuous or discrete.

1. A continuous random variable is a variable that has its possible values as an infinite value, meaning it cannot be counted.

2. A discrete random variable is a variable that has its possible values as a finite value, meaning it can be counted.

Also, any random variable that meets certain conditions defined in a research study.

Hence, an example of a geometric random variables is the number of digits in a randomly selected row until a 3 is found.

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3 years ago

Management by exception means that managers focus attention on the most significant differences between costs and costs.Listen t

OverLord2011 [107]

Management by exception means that managers focus on the most significant differences between actual costs and standard costs

<h3>What is Management by Exception?</h3>

This refers to the business style that focuses on the identification of cases that are abnormal in a business and making recommendations on the best practice to solve them.

Hence, we can see that management by exception means that managers focus on the most significant differences between actual costs and standard costs.

One of the main disadvantages of management by exception is the problem of time wasted investigating a large number of variances if the proposed budget has some problems with the formulation.

Therefore, management by exception means that managers focus on the most significant differences between actual costs and standard costs