Notes

Standard Deviation is much more meaningful than variance in most.

Standard Deviation

• Standard Deviation is the most common measure of variability for a Single Dataset.
• Population Standard Deviation
  • Equation: Square root of the population variance
• Sample Standard Deviation
  • Equation: Square root of the sample variance

Coefficient of Variation

• Comparing Standard deviation of 2 datasets is useless, but comparing coefficient of variation is not.
• Also known as Relative Standard Deviation
• Equation: Standard Deviation / Mean

Course Materials

2.10.+Standard+deviation+and+coefficient+of+variation_lesson.xlsx