Transcription of Reading 6a: Expectation, Variance and Standard Deviation ...
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Reading 6a: Expectation, Variance and Standard Deviation ...
Expectation, Variance and Standard Deviation forContinuous Random VariablesClass 6, Orloff and Jonathan Bloom1 Learning Goals1. Be able to compute and interpret expectation, Variance , and Standard Deviation forcontinuous random Be able to compute and interpret quantiles for discrete and continuous random IntroductionSo far we have looked at expected value, Standard Deviation , and Variance for discreterandom variables. These summary statistics have the same meaning for continuous randomvariables: The expected value =E(X) is a measure of location or central tendency.
The standard deviation ˙is a measure of the spread or scale. The variance ˙2 = Var(X) is the square of the standard deviation. To move from discrete to continuous, we will simply replace the sums in the formulas by integrals. We will do this carefully and go through many examples in the following sections.
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