Define variance and standard deviation of a random variable.

Asked by Topperlearning User | 4th Jun, 2014, 01:23: PM

Expert Answer:

Variance of a Random Variable: Let X be a random variable whose possible values x1, x2, x3, ..., xn occur with probabilities p1, p2, p3,..., pn, respectively. Also,be the mean of X. The variance of X, denoted by Var (X) is defined as                                       

Standard Deviation of a Random Variable: The non-negative number;
 is called the standard deviation of random variable X.

Answered by  | 4th Jun, 2014, 03:23: PM