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?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Introductory Algebra Concepts And Graphs
Authors: Charles P McKeague
1st Edition
1630980110, 9781630980115
