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Simple Variance Question
Can somebody calculate the variance for these two situations for me?
I'm a little rusty on my stats, and I think I'm going about it the wrong way Situation 1: Getting 1.5:1 on a coin flip Situation 2: Getting 6:1 on a single number, on a the roll of a die Please show all steps. FWIW: I have the EVs calculated as: 1: (1.5x-1x)/2 = 0.25x = E(x) 2: (6x-5x)/6 = 0.167x = E(x) |
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