Asked by Alexandria Newell on Sep 27, 2024

A random variable X is standardized by subtracting the mean and dividing by the variance.

Standardized

Refers to the process of subtracting the mean and dividing by the standard deviation for each data point in a dataset, resulting in a z-score.

Variance

A measure of the spread of a set of numbers, calculated as the average squared deviation from the mean.

  • Familiarize oneself with the process of adjusting a random variable to a uniform scale and the utilization of Z-scores.