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Variance Chart

Variance Chart - Unlike some other statistical measures of variability, it. It assesses the average squared difference between data values and the mean. It is calculated by taking the average of squared deviations from the mean. A variance of smaller magnitude (closer to zero) implies that the set of numbers is quite tightly clustered around the center. Understand variance using solved examples. Variance is a measure of dispersion,. A lower variance means the data set is close to its mean, whereas a greater variance. Calculates variance and standard deviation for a data set. In probability theory and statistics, variance is the expected value of the squared deviation from the mean of a random variable. That is, v (x) is the average squared distance between x and its mean.

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