#PROBABILITY WEIGHTED STANDARD DEVIATION HOW TO#
#PROBABILITY WEIGHTED STANDARD DEVIATION INSTALL#
That is, the variance of a random variable X is a measure of how spread out the values of X are, given how likely each value is to be observed.ĭefinition: Variance and Standard Deviation of a Discrete Random Variable The variance is a numerical description of the spread, or the dispersion, of the random variable. Another important quantity related to a given random variable is its variance.