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Is sigma square equal to variance?
Yes, sigma squared (σ²) represents the variance of a population in statistics. Variance measures the dispersion of a set of values around their mean, and it is calculated as the average of the squared differences from the mean. In summary, σ² is simply the symbol used to denote variance in statistical formulas.
Is mean used to describe the variance of data?
Yes.
What SPSS procedures can be used for data screening of categorical variables?
variance
How is variance used to measure risk?
In finance, risk of investments may be measured by calculating the variance and standard deviation of the distribution of returns on those investments. Variance measures how far in either direction the amount of the returns may deviate from the mean.
What is the variance used for?
Variance is used to add standard deviations when comparing two samples or populations. Variance is simply Std^2. The formula for obtaining Std is dependent on the type of sample taken\ hypothesis test performed i.e. 2-proportion pop/sample, single proportion, poussin, binomial, etc.
