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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2
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N
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s2
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SSx
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Detailed explanation-1: -The sample variance is defined by(15.59)We use the symbol sx2 for a sample variance and the symbol x2 for a population variance.
Detailed explanation-2: -The sample variance is the square of the sample standard deviation and is represented by: s2 = ( xi – x bar )2 / ( n – 1 ) The symbol ‘s2’ represents the sample variance.
Detailed explanation-3: -The formula for variance (s2) is the sum of the squared differences between each data point and the mean, divided by the number of data points.
Detailed explanation-4: -The statistic s² is a measure on a random sample that is used to estimate the variance of the population from which the sample is drawn. Numerically, it is the sum of the squared deviations around the mean of a random sample divided by the sample size minus one.