Explain the meaning of the variance of a random variable
Question: 1. Explain the meaning of the variance of a random variable. What are possible uses of the variance?
2. Why is the standard deviation of a random variable more meaningful than its variance for interpretation purposes?
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question 1 explain the meaning of the variance of a random variable what are possible uses of the variance2 why is the
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if population increases at an average rate of 1 per year and output increases at an average rate of 5 per year then per
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