STATISTICAL TECHNIQUES AND TOOLS
MEASURES OF VARIABILITY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
How many different variations are in the data set.
|
|
|
How the population varies compared to the sample.
|
|
|
How spread out each data value is from the mean.
|
|
|
The range, but with a bunch of other stuff going on.
|
Detailed explanation-1: -Unlike range and interquartile range, variance is a measure of dispersion that takes into account the spread of all data points in a data set. It’s the measure of dispersion the most often used, along with the standard deviation, which is simply the square root of the variance.
Detailed explanation-2: -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-3: -In some data sets, the data values are concentrated closely near the mean; in other data sets, the data values are more widely spread out from the mean. The most common measure of variation, or spread, is the standard deviation. The standard deviation is a number that measures how far data values are from their mean.
Detailed explanation-4: -Variance is a measure of how data points differ from the mean. According to Layman, a variance is a measure of how far a set of data (numbers) are spread out from their mean (average) value. Variance means to find the expected difference of deviation from actual value.