Suppose P(X=a)=p and P(X=b)=1-p
So clearly (X-b)/(a-b) is a Bernoulli Random variable. Find Var(X).
The solution says:
What I don't understand is how they did the part where I have underlined the equal sign (i.e. how to get out the 1/(a-b)^2 from that). Thanks.