Glossary Statistics / Term
A random variable can be decomposed into a sum of its expected value and chance variation around its expected value. The expected value of the chance variation is zero; the standard error of the chance variation is the same as the standard error of the random variable—the size of a "typical" difference between the random variable and its expected value. See also sampling error.
Permanent link Chance variation, chance error - Creation date 2021-08-07