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Maximum spread within bounds

StatisticsHard

real numbers each lie in the interval and have mean . What is the largest possible population variance (dividing by )?

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A whole number, a decimal, a fraction like 3/8 or a percent.

Hint

Variance equals the mean of squares minus the square of the mean; squares are convex, so push values to the ends.

Solution
  1. The total is , and the variance is the mean of squares minus .
  2. The sum of squares is largest when values sit at the endpoints, with at most one value strictly inside.
  3. Taking values equal to and values equal to gives total , so this is feasible, with sum of squares .
  4. The variance is , so the answer is .

Answer: