METHODS OF DATA ANALYSIS
MEASURES OF DISPERSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Standard de3viataion is usually used to compare two sets of data. If the value of the standard deviation is very small the data is more
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dispersed
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consistent
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random data
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None of the above
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Explanation:
Detailed explanation-1: -The standard deviation is useful when comparing one dataset to one or more datasets. You’ve probably heard of the term standard deviation before. This is one way of measuring the dispersion of a given set of data.
Detailed explanation-2: -Standard deviation measures consistency. Consistency is good, but it’s not the only measure of a fund’s quality.
Detailed explanation-3: -The standard deviation is a statistic that measures the dispersion of a data set relative to its mean. It is used to determine the spread of values in a single data set rather than to compare different units. When we want to compare two or more data sets, the co-efficient of variation is used.
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