STATISTICAL TECHNIQUES AND TOOLS
MEASURES OF VARIABILITY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What does the term measure of variation mean?
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the data value that occurs the most often
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the spread of data values
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numbers that split data into quarters (or fourths)
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None of the above
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Explanation:
Detailed explanation-1: -Measures of variation are statistics of how far away the values in the observations (data points) are from each other. There are different measures of variation. The most commonly used are: Range. Quartiles and Percentiles.
Detailed explanation-2: -In statistics, variance measures variability from the average or mean. It is calculated by taking the differences between each number in the data set and the mean, then squaring the differences to make them positive, and finally dividing the sum of the squares by the number of values in the data set.
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