7.2 Standard Deviation & MAD

Front

What is Standard Deviation?

Back

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

Front

What does MAD stand for in statistics?

Back

MAD stands for Mean Absolute Deviation, which is a measure of the average distance between each data point and the mean of the data set.

Front

How do you calculate the Mean Absolute Deviation (MAD)?

Back

1. Find the mean of the data set. 2. Calculate the absolute differences between each data point and the mean. 3. Find the mean of those absolute differences.

Front

What is the first step in calculating Standard Deviation?

Back

The first step is to find the mean (average) of the data set.

Front

What does a higher Standard Deviation indicate about a data set?

Back

A higher Standard Deviation indicates that the data points are more spread out from the mean, showing greater variability.

Front

If two data sets have the same mean, can they have different Standard Deviations?

Back

Yes, two data sets can have the same mean but different Standard Deviations, indicating different levels of variability.

Front

What is the relationship between Standard Deviation and data spread?

Back

Standard Deviation quantifies how much the data points deviate from the mean, thus indicating the spread of the data.

Front

What is the second step in calculating the Mean Absolute Deviation?

Back

The second step is to find the distance each value is from the mean.

Front

If the ages of employees at Company A are closer together than those at Company B, what can be said about their Standard Deviations?

Back

Company A likely has a lower Standard Deviation compared to Company B, indicating less variability in ages.

Front

What is the formula for calculating Standard Deviation?

Back

The formula is: SD = sqrt(Σ(xi - μ)² / N), where μ is the mean, xi are the data points, and N is the number of data points.