A continuous random variable can assume any value in an interval or collection of intervals.
To elaborate, continuous random variables are defined over continuous intervals, which means they can take on an infinite number of values within a given range. For example, if a continuous random variable represents the height of individuals, it could take on any value, such as 5.5 feet, 5.55 feet, or 5.555 feet, etc. This is in contrast to discrete random variables, which can only assume specific distinct values, such as only the integers or only certain fractional values. Therefore, option (a), which states that a continuous random variable may assume any value in an interval or collection of intervals, is the correct answer.