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It's used in determining how far from the standard (average) a certain item or data point happen to be. (Ie, one standard deviation; two standard deviations, etc.)

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Q: How is standard deviation useful?
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Related questions

What are the assumptions of standard deviation?

The standard deviation is the standard deviation! Its calculation requires no assumption.


What does the sample standard deviation best estimate?

The standard deviation of the population. the standard deviation of the population.


Why is it a useful value to report standard deviation?

The standard deviation of a distribution is the average spread from the mean (average). If I told you I had a distribution of data with average 10000 and standard deviation 10, you'd know that most of the data is close to the middle. If I told you I had a distrubtion of data with average 10000 and standard deviation 3000, you'd know that the data in this distribution is much more spread out. dhaussling@gmail.com


What is standard deviation of 155.45?

The standard deviation is 0.


If quartile deviation is 24. find mean deviation and standard deviation?

Information is not sufficient to find mean deviation and standard deviation.


What is the relationship between standard deviation and variance?

Standard deviation is the square root of the variance.


What is the standard deviation of a standard normal distribution?

The standard deviation in a standard normal distribution is 1.


What is the difference between standard error of mean and standard deviation of means?

Standard error of the mean (SEM) and standard deviation of the mean is the same thing. However, standard deviation is not the same as the SEM. To obtain SEM from the standard deviation, divide the standard deviation by the square root of the sample size.


Why do we need the standard deviation?

The standard deviation is a measure of the spread of data.


What is the standard deviation of 9?

You need more than one number to calculate a standard deviation, so 9 does not have a standard deviation.


Difference Standard Deviation of a portfolio?

difference standard deviation of portfolio


Can a standard deviation of a sample be equal to a standard deviation of a population?

Yes