A random variable takes values 1234 and prob 015 012 033 040

A random variable takes values 1,2,3,4 and prob 0.15, 0.12, 0.33, 0.40. What is variance?
A random variable takes values 1,2,3,4 and prob 0.15, 0.12, 0.33, 0.40. What is variance?

Solution

As var = Sum( x^2 p(x) ) - [Sum (x p(x))]^2          
          
Then, using a table,          
          
          
x   P(x)   x P(x)   x^2 P(x)
          
1   0.15   0.15   0.15
2   0.12   0.24   0.48
3   0.33   0.99   2.97
4   0.4   1.6   6.4
          
   Sum (x P(x)) = 2.98  
   Sum (x^2 P(x)) = 10  
          
Thus,          
          
var =    1.1196   [ANSWER]  

A random variable takes values 1,2,3,4 and prob 0.15, 0.12, 0.33, 0.40. What is variance? A random variable takes values 1,2,3,4 and prob 0.15, 0.12, 0.33, 0.40

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