AP Statistics Chapter 16: Random Variables - Anticipation Guide Answer the following questions after reading pg 366-382. Questions Answer 1. Explain what a random variable is. 2. What is the expected value? What is the formula for calculating expected value? 3. What are some examples of where expected value could be used in the "real world?" 4. Explain how to find both a standard deviation and variance from an expected value by hand. 5. Now, explain how to find both a standard deviation and variance from an expected value by using the calculator you have. (Videos have been provided on the Google Classroom, you need to watch them to answer this question) 6. How are expected values and their variance affected by finding a sum or difference between two random variables? What role does independence play? 7. What is a continuous random variable? How does this differ from a discrete random variable? Which model is used to find the probability