How to calculate the variance of $X$:
$X= 1 w.p. 0.5; -1 w.p. 0.5 $
I was trying
$Var(X)=E(X^2)-(EX)^2=E(X^2)-0=X^2P(X^2=-1,-1)+X^2P(X^2=1,1)+X^2P(X^2=-1,1)+X^2P(X^2=1,-1)=-1/4-1/4+1/4+1/4=0$
However the book's answer says $Var(X)=1$
How to calculate the variance of $X$:
$X= 1 w.p. 0.5; -1 w.p. 0.5 $
I was trying
$Var(X)=E(X^2)-(EX)^2=E(X^2)-0=X^2P(X^2=-1,-1)+X^2P(X^2=1,1)+X^2P(X^2=-1,1)+X^2P(X^2=1,-1)=-1/4-1/4+1/4+1/4=0$
However the book's answer says $Var(X)=1$
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Your calculation is confusing. What is $P(X^2=-1,-1)$ supposed to be?
$X^2$ is a random variable with only one possible value, and that values is $1$. $X$ has a value of $1$ with a probability of $1$ (because there is a $0.5$ probability that $X$ is $1$-in which case $X^2$ is $1$, and a $0.5$ probability that $X=-1$, in which case, also, $X^2=1$)