computer-scienceangular-roadmapbackend-roadmapblockchain-roadmapdba-roadmapdeveloper-roadmapdevops-roadmapfrontend-roadmapgo-roadmaphactoberfestjava-roadmapjavascript-roadmapnodejs-roadmappython-roadmapqa-roadmapreact-roadmaproadmapstudy-planvue-roadmapweb3-roadmap
You can not select more than 25 topics
Topics must start with a letter or number, can include dashes ('-') and can be up to 35 characters long.
8 lines
1.1 KiB
8 lines
1.1 KiB
# Variance as a Measure of Dispersion |
|
|
|
Data analysts heavily rely on statistical concepts to analyze and interpret data, and one such fundamental concept is variance. Variance, an essential measure of dispersion, quantifies the spread of data, providing insight into the level of variability within the dataset. Understanding variance is crucial for data analysts as the reliability of many statistical models depends on the assumption of constant variance across observations. In other words, it helps analysts determine how much data points diverge from the expected value or mean, which can be pivotal in identifying outliers, understanding data distribution, and driving decision-making processes. However, variance can't be interpreted in the original units of measurement due to its squared nature, which is why it is often used in conjunction with its square root, the standard deviation. |
|
|
|
Learn more from the following resources: |
|
|
|
- [@article@What is Variance?](https://www.investopedia.com/terms/v/variance.asp) |
|
- [@article@How to Calculate Variance](https://www.scribbr.co.uk/stats/variance-meaning/) |