Final answer:
In statistics, the variance of a variable measures how spread out the values of that variable are around the mean. If we are given that var(ux) = 7, it means that the variance of the variable ux is equal to 7.
Step-by-step explanation:
In statistics, the variance of a variable measures how spread out the values of that variable are around the mean. If we are given that var(ux) = 7, it means that the variance of the variable ux is equal to 7. This indicates that the values of ux are spread out around the mean, with a magnitude of 7.