BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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deviation about the median.
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number of variables.
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deviation about the mean.
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correlation in the data.
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Detailed explanation-1: -Variance is equal to the average squared deviations from the mean, while standard deviation is the number’s square root. Also, the standard deviation is a square root of variance.
Detailed explanation-2: -The variance is mean squared difference between each data point and the centre of the distribution measured by the mean.
Detailed explanation-3: -Mean and variance is a measure of central dispersion. Mean is the average of given set of numbers. The average of the squared difference from the mean is the variance.
Detailed explanation-4: -Standard deviation measures how far apart numbers are in a data set. Variance, on the other hand, gives an actual value to how much the numbers in a data set vary from the mean. Standard deviation is the square root of the variance and is expressed in the same units as the data set.
Detailed explanation-5: -Variance is the average squared deviations from the mean, while standard deviation is the square root of this number. Both measures reflect variability in a distribution, but their units differ: Standard deviation is expressed in the same units as the original values (e.g., minutes or meters).