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]
