BSAN Distributions Part 2

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8 Terms

1
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Multiply each X by its probability, then add the products

How do you calculate expected value?

2
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A weighted average

What type of average is expected value?

3
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No. It can fall between possible values.

Must expected value be a possible X value?

4
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The mean or central value of a probability distribution.

What does an expected value help describe?

5
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How spread out the values are around the mean.

What does variance measure?

6
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Take the square root of variance

How do you calculate standard deviation?

7
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No. Adding or subtracting b doesn't affect variance

Does adding a constant change variance?

8
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Variance uses squared units; standard deviation uses the original units

How does variance differ from standard deviation?