For computational convenience, the variance formula given above can also be expressed as var( X) = o2 = E( X — p)2 = E( X2) — p2 = E( X2) — [ E( X)]2
Applying this formula, it can be seen that the variance of the random variable given in Example 13 is 289 — (—|)2 = 2647 = 3.23.
APPENDIX A: A REVIEW OF SOME STATISTICAL CONCEPTS 881
Was this article helpful?
Learning About The Rules Of The Rich And Wealthy Can Have Amazing Benefits For Your Life And Success. Discover the hidden rules and beat the rich at their own game. The general population has a love / hate kinship with riches. They resent those who have it, but spend their total lives attempting to get it for themselves. The reason an immense majority of individuals never accumulate a substantial savings is because they don't comprehend the nature of money or how it works.