Probability theory
Variance of two outcomes
Variance of two outcomes measures the average squared spread of values around their mean.
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Var[X]=p(1−p)(x₁−x₂)²
- 01Given
- 02Calculation
- 03Answer
What it means
Variance of two outcomes measures the average squared spread of values around their mean.
How it works and where it is used
Use this calculation for estimating the mean and spread of random variables in statistics and risk management.