If X and Y Are ____________________,The Variance of Their Sum

question 94

Short Answer

If X and Y are ____________________,the variance of their sum is equal to the sum of their variances.

---

Definitions:

Overconfidence Effect

A cognitive bias where people overestimate their own abilities, knowledge, or predictions.

Behavioral Economics

A branch of economics concerned with understanding how the economic behaviors of individuals and institutions are impacted by factors like psychology, cognition, emotions, culture, and society.

Hindsight Bias

A psychological phenomenon where people believe they could have predicted an event after it has already occurred.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a person's mind when evaluating a specific topic, concept, method, or decision.