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The standard deviation for a set of data is a measure of how much the individual observations are spread about their mean. A small value indicates that they are all tightly packed around the mean value whereas a large value indicates that the observations are not so close together.
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What does denominator of z-score measure?
The standard deviation.z-score of a value=(that value minus the mean)/(standard deviation)
Why is the standard error a smaller numerical value compared to the standard deviation?
Let sigma = standard deviation. Standard error (of the sample mean) = sigma / square root of (n), where n is the sample size. Since you are dividing the standard deviation by a positive number greater than 1, the standard error is always smaller than the standard deviation.
What does relative standard deviation of 0.003 mean?
The relative standard deviation is the absolute value of the ration of the sample mean to the sample standard deviation. This value appears to be quite small; however, without comparative data it is difficult to know what to make of it. In some contexts it might even be considered large.
What are the assumptions of standard deviation?
The standard deviation is the standard deviation! Its calculation requires no assumption.
How do you find out the z-score?
z-score of a value=(that value minus the mean)/(standard deviation)
