3.1 Learning Objectives

At the end of the live session and homework this week, students will be able to:

1. Understand the importance of thinking in terms of random variables, while;
2. Being able to appreciate that it is not typically possible to fully model the world with a single function.
3. Articulate why we need a target for a model, and propose several possible such targets.
4. Justify why expectation is a good model, why variance is a reasonable model, and how covariance relates two-random variables with a common joint distribution.
5. Produce summaries of location and relationship given a particular functional form for a random variable.