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Distinguish between mean deviation and standard deviation?
The mean deviation for any distribution is always 0 and so conveys no information whatsoever. The standard deviation is the square root of the variance. The variance of a set of values is the sum of the probability of each value multiplied by the square of its difference from the mean for the set. A simpler way to calculate the variance is Expected value of squares - Square of Expected value.
How do you prove that the sample variance is equal to the population variance?
You cannot prove it because it is not true.The expected value of the sample variance is the population variance but that is not the same as the two measures being the same.
What does homogeneity of variance mean?
It means that the variance remains the same across the range of values of the variable.
What is adverse variance?
A non favourable variance Eg: adverse revenue means the company earned less revenue than expected.
What is the measure of central tendency that is least affected by extreme values?
the variance
