This document discusses calculating variance and standard deviation of a discrete random variable. It defines variance as the square root of the variance, which describes the variation in a probability distribution. It provides the formula for calculating variance and outlines the steps to find variance and standard deviation of a discrete random variable which include: finding the mean, subtracting the mean from each value, squaring the results, multiplying by the corresponding probabilities, and summing to find variance. Finally, it provides an example of calculating variance and standard deviation.