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variance-standard-deviation

Variance and standard deviation are fundamental concepts in statistics that measure the variability or dispersion of a dataset. Variance quantifies how far each number in the set is from the mean and from each other, calculated as the average of the squared differences from the mean. However, since variance is expressed in squared units, it can be less intuitive. Standard deviation, on the other hand, is the square root of the variance, providing a measure of dispersion in the same units as the original data. Together, they help in understanding the spread and reliability of data in various fields, including finance, science, and social research.

Standard Deviation For Dummies

Towards AI

I bet you’ve heard about standard deviation but what does it mean? Here is an explanation that even your dog can understand. Image by the author Standard deviation is closely related to variance. Vari...

Standard Deviation vs. Standard Error

Towards Data Science

Standard deviation measures the dispersion(variability) of the data in relation to the mean. In simple terms, the closest to zero the standard deviation is the more close to the mean the values in…

Statistics #03 — Standard Deviation and Variance

Towards Data Science

In this article, we’ll take a closer look at how we can measure data variability. In the following sessions, you’ll learn the basics of Standard Deviation and Variance. This work is a sequence of the…...

A visual interpretation of the standard deviation

Towards Data Science

One of the most central concepts in statistics is the concept of standard deviation and its relationship to all other statistical quantities such as the variance and the mean. Students in…

Understanding Standard Deviation, Confidence Intervals, and Variance in Machine Learning

Javarevisited

Standard deviation is a statistical measure of how spread out a set of data is from its mean or average value. It is a measure of the amount of variation or dispersion of a set of data points.In machi...

When Variance and Standard Deviation Fail to Explain Variability!

Towards AI

We all know the definition of variance — it helps us understand how dispersed the data points are, around the mean. If the data points are far off from the mean, we have larger curves than if the…

Statistics: Mean / Median /Mode/ Variance /Standard Deviation

Analytics Vidhya

Mean / Median /Mode/ Variance /Standard Deviation are all very basic but very important concept of statistics used in data science. Almost all the machine learning algorithm uses these concepts in…

Making Inferences about a Single Population Variance

Towards Data Science

Variance is a crucial component when analyzing risk and uncertainty. The unbiased estimator of the population variance, the sample variance, as represented by the following formula: The chi-square…

Is Variance Really A Measure Of Uncertainty?

Towards Data Science

Suppose that you are collecting a sample of ratings data, which can range from 1 to 10. Let’s say that your sample consists of 100 points, and consider two possible samples. If we took variance to be…...

Efficiently computing the variance in massive and distributed datasets

Towards Data Science

Computing the variance of a data feature is probably one of the most fundamental operations in data analysis. Be it for visualizations purposes or statistical tests, the variance, or rather the…

Variance Reduction in Causal Inference

Towards Data Science

Math tricks can make our measurements a lot more accurate Photo by Daniel Lerman on Unsplash Which variance are we talking about? Variance is an issue in estimation of any measure. Every time we make...