Over the past week, study Statistics 2 and covered several fundamental topics on expectations and relationships between random variables. Here is a summary of what I went through:
Expected Value & Its Properties:
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Explored the core concept of the expected value of a random variable.
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Studied the key algebraic properties of expectation (linearity of expectation).
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Implemented simulations in Python to visualize and verify expected values numerically.
Variance & Standard Deviation:
- Analyzed measures of dispersion to understand how random variables spread around their mean.
Relationships Between Variables:
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Covariance: Investigated joint variability and key properties of covariance between two random variables.
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Correlation: Learned how to compute and interpret the correlation coefficient to measure the strength and direction of linear relationships.
