Question
The formula to calculate variance of random variables with given fixed probabilities is Var(x)=(1-mean)^2*P(x=1)+(0-mean)^2*P(x=0). For example, Var(x)=(1-0.8)^2*0.8+(0-0.8)^2*0.2, where P(x=1)=0.8 and P(x=0)=0.2. Now we change the
The formula to calculate variance of random variables with given fixed probabilities is Var(x)=(1-mean)^2*P(x=1)+(0-mean)^2*P(x=0). For example, Var(x)=(1-0.8)^2*0.8+(0-0.8)^2*0.2, where P(x=1)=0.8 and P(x=0)=0.2.
Now we change the given fixed probabilities to be uniform distribution, which means that P(x=1)=U(0.7,0.9) and P(x=0)=(0.1,0.3). What is the variance now?
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Introduction to Probability
Authors: Mark Daniel Ward, Ellen Gundlach
1st edition
716771098, 978-1319060893, 1319060897, 978-0716771098
