What is Variance
Variance basically tells us how spread out a set of data is. If all the data points are the same, the variance is zero. Any non-zero variance is considered positive. Low variance means the data points are close to the average (or mean) and to each other. High variance means the data points are spread out from the average and from each other. In simple terms, variance is the average of how far each data point is from the mean, squared.
Difference between Variance and Deviation
Aspect | Variance | Deviation (Standard Deviation) |
---|---|---|
Definition | Measure of spread in a dataset. | Measure of average distance from the mean. |
Calculation | Average of squared differences from the mean. | Square root of the variance. |
Symbol | σ^2 (sigma squared) | σ (sigma) |
Interpretation | Indicates the average squared deviation of data points from the mean. | Indicates the average distance of data points from the mean. |
Standard Deviation – Formula, Examples & How to Calculate
Standard Deviation is the measure of the dispersion of statistics. The standard deviation formula is used to find the deviation of the data value from the mean value i.e. it is used to find the dispersion of all the values in a data set to the mean value. There are different standard deviation formulas to calculate the standard deviation of a random variable.
In this article, we will learn about what is standard deviation, the standard deviation formulas, how to calculate standard deviation, and examples of standard deviation in detail.
Table of Content
- What is Standard Deviation?
- Standard Deviation Definition
- Standard Deviation Formula
- Formula for Calculating Standard Deviation
- How to Calculate Standard Deviation?
- What is Variance
- Difference between Variance and Deviation
- Varience Formula
- How to Calculate Variance?
- Standard Deviation of Ungrouped Data
- Standard Deviation of Discrete Grouped Data
- Standard Deviation of Continuous Grouped Data
- Standard Deviation of Probability Distribution
- Standard Deviation of Random Variables
- Standard Deviation Formula Example
- Standard Deviation Formula Excel
- Standard Deviation Formula Statistics