Foundation of Probability Theory Random Experiments Random Experiments Question:How to characterize a random system or stochastic process? Definition 1.Random Experiment A random experiment is a mechanism which has at least two possible outcomes. When a random experiment is performed,one and only one outcome will occur,but which outcome to occur is unknown in advance. Foundation of Probability Theory Introduction to Statistics and Econometrics May22,2019 4/248Foundation of Probability Theory Introduction to Statistics and Econometrics May 22, 2019 4/248 Random Experiments Random Experiments Question: How to characterize a random system or stochastic process? Definition 1. [ Random Experiment ] A random experiment is a mechanism which has at least two possible outcomes. When a random experiment is performed, one and only one outcome will occur, but which outcome to occur is unknown in advance. Foundation of Probability Theory