Question 1

What is standard deviation?

Accepted Answer

Standard deviation is a measure of the amount of variation or dispersion of a set of values. A low standard deviation indicates that the values tend to be close to the mean (average), while a high standard deviation indicates that the values are spread out over a wider range.

Question 2

What is the difference between sample and population standard deviation?

Accepted Answer

You use the population formula when your data includes every member of a group. You use the sample formula when your data is a random subset of a larger population. The sample formula uses 'n-1' in the denominator to provide an unbiased estimate of the population's deviation, which is the standard statistical practice.

Question 3

What is variance?

Accepted Answer

Variance is another measure of how spread out a data set is. It is the average of the squared differences from the Mean. The standard deviation is simply the square root of the variance, which brings the unit of measure back to the original unit of the data.

Standard Deviation Calculator

Standard Deviation Calculator

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