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Mean, variance, standard deviation and expectation

Objectives. Find the mean, variance, standard deviation, and expected value for a discrete random variable . Introduction. Once we know that a probability distribution exist, we can describe it using various descriptive statistics Visually using a graph, table, or formula Algebraically, we can fin

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Mean, variance, standard deviation and expectation

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    1. Mean, variance, standard deviation and expectation Section 5-3

    2. Objectives Find the mean, variance, standard deviation, and expected value for a discrete random variable

    3. Introduction Once we know that a probability distribution exist, we can describe it using various descriptive statistics Visually using a graph, table, or formula Algebraically, we can find the mean, variance, and standard deviation

    4. Mean of a general discrete probability distribution m= population mean since ALL possible values are considered Mean is also known as “Expected Value” Mean should be rounded to one more decimal place than the outcome x. Always simplify fractions

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