STANDARD DEVIATION Meaning and
Definition
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Standard deviation is a statistical measure that quantifies the amount of variability or dispersion in a set of values or data points. It measures how spread out the data is around the mean or average value. It is commonly denoted by the symbol σ (sigma) for a population and s for a sample.
Mathematically, standard deviation is calculated by taking the square root of the variance. The variance is determined by summing up the squared differences between each data point and the mean, and then dividing this sum by the total number of data points minus one.
Standard deviation provides useful information about the distribution of data points. A smaller standard deviation signifies that the data points are clustered closer to the mean, indicating less variability and a more homogeneous dataset. Conversely, a larger standard deviation suggests that the data points are more spread out from the mean, indicating greater variability and a more diverse dataset.
Standard deviation is widely used across various fields, including finance, economics, psychology, and natural sciences. It enables researchers and analysts to understand the extent to which individual data points deviate from the average, providing insights into the data's reliability and predicting future outcomes. Additionally, it plays a crucial role in hypothesis testing and drawing statistical inferences.
Common Misspellings for STANDARD DEVIATION
- atandard deviation
- ztandard deviation
- xtandard deviation
- dtandard deviation
- etandard deviation
- wtandard deviation
- srandard deviation
- sfandard deviation
- sgandard deviation
- syandard deviation
- s6andard deviation
- s5andard deviation
- stzndard deviation
- stsndard deviation
- stwndard deviation
- stqndard deviation
- stabdard deviation
- stamdard deviation
- stajdard deviation
Etymology of STANDARD DEVIATION
The word "standard deviation" originates from the field of statistics. The term "standard" refers to a widely accepted or established measurement or value. "Deviation" refers to a measure of how much a value or a set of values varies or deviates from the standard or average value. Hence, the term "standard deviation" describes a statistical measure of the amount of variability or dispersion in a set of data points, indicating how much the data values deviate from the mean or average value.
Similar spelling words for STANDARD DEVIATION
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