Question
How standard electrode potential can be calculated and state its importance.

Answer

We can't calculate the electrode potential of a single electrode. Hence it can be calculated by combining it with standard electrode.
Standard electrode potential or Standard reduction potential $=$ Electrode potential of cathode - Electrode potential of anode
$E _{\text {cell }}^0= \underset{\text{cathode}}{E ^0}- E _{\text {anode }}^0$
The electrode potential of hydrogen electron is considered at zero in standard conditions. Hence, when it is attached with unknown electrode, the electrode potential can be calculated.

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