Asked by
Priscilla Quintero
on Nov 30, 2024
Verified
In order to measure the variability in the same units as the original observations, we compute the sample variance.
Sample Variance
A metric indicating the spread or variation in a set of sample data, determined by dividing the sum of the squared differences from the mean by the total number of data points minus one.
- Acknowledge the critical role of variability indicators (standard deviation, variance) and central measures (mean, median, mode) in encapsulating data.
- Elaborate on the process of computing variance and standard deviation, and their relevance in data analytics.
Verified Answer
JH
Learning Objectives
- Acknowledge the critical role of variability indicators (standard deviation, variance) and central measures (mean, median, mode) in encapsulating data.
- Elaborate on the process of computing variance and standard deviation, and their relevance in data analytics.