What is the difference between statically typed and dynamically typed languages?

Question

I hear a lot that new programming languages are dynamically typed but what does it actually mean when we say a language is dynamically typed vs. statically typed?

Answer 1

Statically typed languages: each variable and expression is already known at compile time.

(int a; a can take only integer type values at runtime)

Examples: C, C++, Java

Dynamically typed languages: variables can receive different values at runtime and their type is defined at run time.

(var a; a can take any kind of values at runtime)

Examples: Ruby, Python.