5 Questions
Variance is the expected value of the absolute deviation from the mean of a random variable.
False
The variance of a sum of uncorrelated random variables is equal to the sum of their variances.
True
The standard deviation is the square root of the variance.
True
There is only one concept referred to as 'variance' in probability theory and statistics.
False
The units of variance differ from the random variable, unlike the standard deviation.
True
Study Notes
Variance in Probability Theory and Statistics
- Variance is the expected value of the absolute deviation from the mean of a random variable.
Properties of Variance
- The variance of a sum of uncorrelated random variables is equal to the sum of their variances.
Relationship with Standard Deviation
- The standard deviation is the square root of the variance.
Unique Concept
- There is only one concept referred to as 'variance' in probability theory and statistics.
Units of Variance
- The units of variance differ from the random variable, unlike the standard deviation.
Test your knowledge of variance, a statistical measure of how far values spread from their average. Understand its relationship with the standard deviation and its role as a measure of dispersion.
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