Var (X ) = 0 x L (x - "x) 'P(x) all possible values of x 5. Mean, variance, and standard deviation can be illustrated by looking pattern and analyzing given illustrations and diagrams. 6. A small value of standard deviation (or variance) means that the dispersion of the random variable is narrowly concentrated around the mean. A large value of standard deviation (or variance) means that the distribution is spread out, with some possibility of observing values at some distance from the mean What I Can Do Family Budget Things to do: 1. Create a Table of Expenses of your family in a week. (Ask help from your Mother) 2. List the number of expenses for each day. 3. Create a graphical representation of your data gathered. 4. Base on the graphical representation you made, illustrate for the following: 74a. mean or expected value; and b. variance and standard deviation. 5. Share your output to the Class Group Chat through Image or Video Presentation. TASK CRITERIA Accuracy of the Data Gathered 50% Clarity and content of the visual 25% representation Originality and creativity of the 25% Presentation TOTAL 100%