STATISTICAL TECHNIQUES AND TOOLS
MEASURES OF CENTER AND SPREAD
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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spread
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center
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shape
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outliers
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Detailed explanation-1: -The variance and the standard deviation are measures of the spread of the data around the mean. They summarise how close each observed data value is to the mean value.
Detailed explanation-2: -Standard deviation is one of the most common ways to measure spread. Like range and IQR, standard deviation measures how far apart the values are from one another. The standard deviation roughly describes how far away the typical data point is from the mean.
Detailed explanation-3: -The standard error is considered part of inferential statistics. It represents the standard deviation of the mean within a dataset. This serves as a measure of variation for random variables, providing a measurement for the spread. The smaller the spread, the more accurate the dataset.