Variance and Standard Deviation (SOA Exam P – Probability – Univariate Random Variables Module)
Автор: AnalystPrep
Загружено: 2022-06-19
Просмотров: 5955
Master the intuition behind variance and standard deviation for SOA Exam P. We explain what spread around the mean really means, compare random variables that share the same average but behave very differently, and show a quick, calculator friendly workflow from a probability table. You will learn how probabilities and distances from the mean work together, how to interpret dispersion, and how variance connects to standard deviation so you can answer exam style questions with confidence.
AnalystPrep Actuarial Exams Study Packages (video lessons, study notes, question bank, and quizzes,) can be found at https://analystprep.com/shop/actuaria...
After completing this video you should be able to:
Explain and calculate variance, standard deviation, and coefficient of variation.
𝜎^2 = 𝑉𝑎𝑟(𝑋) = 𝐸[(𝑋−𝜇)^2 ]
=𝐸[𝑋^2] − (𝐸[𝑋])^2 (the second moment minus the square of the first moment)
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