“The variance of Y is the sum of the vj, which is less than nK2.” You need to specify that the lotteries are uncorrelated for this to be true.
He specified “independent”—uncorrelated is implied.
“The variance of Y is the sum of the vj, which is less than nK2.” You need to specify that the lotteries are uncorrelated for this to be true.
He specified “independent”—uncorrelated is implied.