STATISTICAL TECHNIQUES AND TOOLS
MEASURE OF STANDARD DEVIATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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6.89
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10.1
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7.26
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9
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Detailed explanation-1: -The standard deviation is the average amount of variability in your dataset. It tells you, on average, how far each value lies from the mean. A high standard deviation means that values are generally far from the mean, while a low standard deviation indicates that values are clustered close to the mean.
Detailed explanation-2: -For two data sets with the same mean, the one with the larger standard deviation is the one in which the data is more spread out from the center. Standard deviation is equal to 0 if all values are equal (because all values are then equal to the mean).
Detailed explanation-3: -The standard deviation formula may look confusing, but it will make sense after we break it down. Step 1: Find the mean. Step 2: For each data point, find the square of its distance to the mean. Step 3: Sum the values from Step 2. Step 4: Divide by the number of data points. Step 5: Take the square root.