Anna Uses the Letter X to Represent the Possible Sequences

question 129

Essay

Anna uses the letter X to represent the possible sequences of heads and tails that can be obtained when a coin is flipped three times. The possible sequences together with their probabilities are listed below:
$$\begin{array} { c | c } \mathrm { X } & \text { Probability of sequence } \mathrm { X } \\\hline \text { HHH } & 1 / 8 \\\text { HHT } & 1 / 8 \\\text { HTH } & 1 / 8 \\\text { HTT } & 1 / 8 \\\text { THH } & 1 / 8 \\\text { THT } & 1 / 8 \\\text { TTH } & 1 / 8 \\\text { TTT } & 1 / 8\end{array}$$
Is X a random variable? Why or why not? If it is not, which associated variable is a random variable? Give the probability distribution of the associated random variable.

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Definitions:

Deferred Tax Asset

An accounting item on the balance sheet that represents a future tax payment obligation to the IRS, which results in reduced taxes payable in future periods.

Income Tax Liability

The amount of tax that an individual or corporation owes to the government based on their income earnings for the fiscal year.

Deferred Tax Liability

A tax obligation that a company owes but is not yet required to pay, resulting from temporary differences between the company's accounting and tax treatment of assets and liabilities.

Revenue

The total income generated by a company from its normal business operations.