The concept of Variance is key in statistics, indicating the degree of spread in a collection of data. It quantifies the dispersion around the mean. The calculation involves determining the differences between each data point and the mean, squaring these differences, and then determining the average of these squared values. In mathematical terms, it's represented by the symbol σ².
| Topic | Problem | Solution |
|---|---|---|
| None | A random variable X follows a probability distrib… | The variance of a probability distribution is given by \[Var(X) = E(X^2) - [E(X)]^2\]. |