BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Velocity
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Variance
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Volume
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Variety
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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.
Detailed explanation-2: -Unlike range and interquartile range, variance is a measure of dispersion that takes into account the spread of all data points in a data set. It’s the measure of dispersion the most often used, along with the standard deviation, which is simply the square root of the variance.
Detailed explanation-3: -Standard deviation, Range, Mean absolute difference, Median absolute deviation, Interquartile change, and Average deviation are examples of measures of dispersion.
Detailed explanation-4: -Mean deviation is an absolute measure of dispersion.
Detailed explanation-5: -Measures of dispersion describe the spread of the data. They include the range, interquartile range, standard deviation and variance. The range is given as the smallest and largest observations. This is the simplest measure of variability.