Table of Contents
Explain in Detail :Properties of Variance
The variance of a population is a measure of the spread of the values in that population. It is calculated by taking the average of the squared differences between each value in the population and the population mean.
The variance is always a positive number, and it is always less than or equal to the population standard deviation. The variance can be used to compare the variability of two or more populations.
Standard Deviation
The standard deviation is a measure of the dispersion of a set of data from its mean. It is calculated by taking the square root of the variance.
The standard deviation is important because it is used to measure the risk of an investment. The greater the standard deviation, the greater the risk.
Properties of Standard Deviation
The standard deviation is a measure of the variability of a set of data.
The standard deviation is always positive.
The standard deviation is always less than the mean.
The standard deviation is a measure of the spread of the data.
The standard deviation is used to calculate the variance.
Variance and Standard Deviation Formula
The variance and standard deviation formula is:
Where:
x is a set of data points
n is the number of data points in the set
x̄ is the mean of the data set
σ is the standard deviation of the data set
