Q: What are the advantanges and disadvantages of variance in statistics?

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There are both advantages and disadvantages of data collection methods in statistics. The main advantages are the metrics and correlation one can draw from statistics. The disadvantages stem from sampling errors.

It is the estimate of between-study variance, to quantify heterogeneity

the mean is affected by outliers

Variance is basically the raw material of statistics. If you don't have variance (differences in scores) you don't have much to work with or for that matter you don't have much to talk or think about. Consider a test where everyone gets the same score. What does that tell you? You might have some measurement problem, wherein the test is so easy everyone aces it. Still it might be so hard that everyone gets a zero. Now consider two tests. On each everyone gets the same score. That is on test one everyone gets a 15 and on the second test everyone gets a 10. That isn't telling you much is it? Now these are extreme cases, but in general, more variance is better and less variance isn't so good.

There is a brief table in Mario Triola's Elementary Statistics text. In the 9th edition it is on pages 354 - 355 with an example.

Related questions

In statistics, this is the symbol for the "Variance"

The variance is: 0.666666666667

In statistics, variance measures how far apart a set of numbers is spread out. If the numbers are identical, the variance is zero. Variance can never be negative.

Since this is regarding statistics I assume you mean lower case sigma (σ) which, in statistics, is the symbol used for standard deviation, and σ2 is known as the variance.

There are both advantages and disadvantages of data collection methods in statistics. The main advantages are the metrics and correlation one can draw from statistics. The disadvantages stem from sampling errors.

no

They are measures of the spread of the data and constitute one of the key descriptive statistics.

Relevant statistics contain data that directly answers the question researchers analyzed. Findings include samples with standard deviation, distribution, and variance included.

Well there are not many disadvantages of makeup, mostly advantanges but the disadavntages are that it makes you have more wrinkles when your older, if you have acne prone skin it can make acne worse, it can make your pores worse or bigger too. but there are many advantages too!

One advantage of inferential statistics is that large predictions can be made from small data sets. However, if the sample is not representative of the population then the predictions will be incorrect.

It is the estimate of between-study variance, to quantify heterogeneity

the mean is affected by outliers