Explain the meaning of the variance of a random variable

Reference no: EM131370735

1. Explain the meaning of the variance of a random variable. What are possible uses of the variance?

2. Why is the standard deviation of a random variable more meaningful than its variance for interpretation purposes?

Reference no: EM131370735

Questions Cloud

Find the mean and the variance of the code : If a yes answer is coded 1, a no answer is coded -1, and an undecided answer is coded 0, find the mean and the variance of the code.

Technological advancements that would be available : Envision what the health care system of 2030 might look like? Describe at least two technological advancements that would be available to patients. How would technology help providers make health care decisions? How would patients and families int..

How the rest of the sample is obtained : Suggest a way of doing this so that no problems would result due to the fact that 855 is not an integer multiple of 30. Give the first element you choose to select, and explain how the rest of the sample is obtained.

Healthcare delivery systems complement : How do public health and healthcare delivery systems complement and compete with each other? Who are the influential parties and opinion leaders in the components of these systems at the various levels?

Explain the meaning of the variance of a random variable : Explain the meaning of the variance of a random variable. What are possible uses of the variance?- Why is the standard deviation of a random variable more meaningful than its variance for interpretation purposes?

Does the accountant use systematic sampling : An accountant always audits the second account and every fourth account thereafter when sampling a client's accounts.

Find the cumulative distribution function of x : Find the probability that the annual income of a hedge fund manager will be greater than $600 million and less than or equal to $1.5 billion.

Prepare a draft will : Prepare a "draft" Will, Trust or Power of Attorney for yourself or a fictitious person. This is called a Draft because it will not be executed and is intended for you to put into practice what you have learned. Follow the legal requirements in your s..

Healthy people program : The Healthy People program (see the status report on healthy lifestyle habits, Table 1-6) has greatly reduced its goals from the previous targets, especially regarding normal and overweight individuals.

User Account

All Pages