Did you Know?
Descriptive statistics - Variance and Standard Deviation
The variance of a sample measures how the observations are spread around the mean. Large variance means the date is widely spread around the mean.
The formula is:
The unbiased formula is (for a sample):
x = the mean.
N = the population size.
n = the sample size.
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The standard deviation is the the square root of the variance. The standard deviation is in the same 'scale' as the mean is. The makes these two indicators 'comparable'.
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