Mean and Variance of Discrete Random Variable
Mean and Variance of Discrete Random Variable
• µ = ∑ 𝑋𝑃(𝑥)
By
Constructing
A Table
Other way to compute the mean Using
the Histogram
Solution
Example 2
Solution
Solution
Quiz # 3
Answer Key
Answer Key : 5 points each with Solution
1.
2.
Variance and Standard Deviation of a
Random Variable
OR
Variance
OR
Example: Find the Standard Deviation
Solution : Standard Deviation
Difference of Variance and Standard
Deviation
• Variance is the average of the squared differences between each data
point and the mean of the dataset.
• It quantifies the average deviation of data points from the mean.
• Since it involves squared differences, the variance is not in the same
units as the original data.
• Variance gives the average squared deviation of data points from the mean.
• Standard deviation gives the average deviation of data points from the mean, and
it's in the same units as the original data.
• Standard deviation is more commonly used than variance because it is easier to
interpret and provides a more intuitive measure of variability. However, variance is
still important, especially in some statistical calculations and formulas.