Measure of Dispersion
Measure of dispersion is the variation of the statistical data from its central value.
Types Of Measure of Dispersion
4. Standard Deviation
RangeThe range is calculated by simply taking the difference between the maximum and minimum values in the data set. However, the range only provides information about the maximum and minimum values and does not say anything about the values in between. It simplest measure of dispersion.
Mean DeviationAnother method is to calculate the average difference between each data point and the mean value, and divide by the number of points to calculate the mean deviation.
VarianceA better way to measure dispersion is to square the differences before averaging them. This measure of dispersion is known as the variance.
The square root of the variance is known as the standard deviation. The standard deviation and variance are widely used measures of dispersion.
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