0
Still curious? Ask our experts.
Chat with our AI personalities
Ross
Blake
ReneAdd your answer:
Earn +20 pts
Which type of measure of dispersion is mostly used standard deviation or variance?
They are effectively the same but the standard deviation is more popular because the units of measurement are the same as those for the variable.
How do you calculate salary variance?
I believe you are interested in calculating the variance from a set of data related to salaries. Variance = square of the standard deviation, where: s= square root[sum (xi- mean)2/(n-1)] where mean of the set is the sum of all data divided by the number in the sample. X of i is a single data point (single salary). If instead of a sample of data, you have the entire population of size N, substitute N for n-1 in the above equation. You may find more information on the interpretation of variance, by searching wikipedia under variance and standard deviation. I note that an advantage of using the standard deviation rather than variance, is because the standard deviation will be in the same units as the mean.
What does standard deviation tell about distribution and varity?
It is a measure of the spread of the distribution. The greater the standard deviation the more variety there is in the observations.
How do you find the standard deviation for data?
Standard deviation calculation is somewhat difficult.Please refer to the site below for more info
What is the relationship between standard deviation and precision?
The more precise a result, the smaller will be the standard deviation of the data the result is based upon.
