BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Mean
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Standard Deviation
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Mode
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Big Data
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Detailed explanation-1: -Standard deviation (SD) is the most commonly used measure of dispersion. It is a measure of spread of data about the mean. SD is the square root of sum of squared deviation from the mean divided by the number of observations. This formula is a definitional one and for calculations, an easier formula is used.
Detailed explanation-2: -In statistics, standard deviation is the most widely used measure of dispersion of a frequency distribution. It is equal to the positive square root of the variance and should not be confused with the root mean square deviation.
Detailed explanation-3: -An absolute measure of dispersion contains the same unit as the original data set. The absolute dispersion method expresses the variations in terms of the average of deviations of observations like standard or means deviations. It includes range, standard deviation, quartile deviation, etc.
Detailed explanation-4: -Standard Deviation. The standard deviation is the square root of the sample variance.
Detailed explanation-5: -Absolute Measures of Dispersion is one with units; it has the same unit as the initial dataset. Absolute Measure of Dispersion is expressed in terms of the average of the dispersion quantities like Standard or Mean deviation.