Range, Variance, Standard Deviation
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Range
Definition
The range is the difference between the largest and smallest values in a dataset, measuring the total spread of values.
Formula
Example
For the numbers:
Key Points
- Simple to calculate but sensitive to outliers
- Only uses two values, ignoring all values in between
Variance
Definition
The variance measures how far a set of numbers are spread out from their mean. It's calculated as the average squared difference from the mean.
Formula
Sample Variance:
Population Variance:
Example
For the numbers:
Mean = 4
Key Points
- Uses squared differences, making it sensitive to outliers
- Units are squared (e.g., if data is in meters, variance is in meters squared)
Standard Deviation
Definition
The standard deviation is the square root of the variance, providing a measure of spread in the same units as the original data.
Formula
Sample Standard Deviation:
Population Standard Deviation:
Example
Using the previous variance example:
Key Points
- In same units as original data, making it more interpretable than variance
- Approximately 68% of data falls within one standard deviation of the mean in a normal distribution
Related Links
Coefficient of Variation (CV) Calculator
Percentile, Quartile Calculator
Normal Distribution Calculator
Box Plot
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