Standard Deviation - Basic

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What is Standard Deviation?

Back

Standard Deviation is a measure of the amount of variation or dispersion in a set of values.

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What does a low Standard Deviation indicate?

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A low Standard Deviation indicates that the data points tend to be close to the mean (average) of the set.

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What does a high Standard Deviation indicate?

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A high Standard Deviation indicates that the data points are spread out over a wider range of values.

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How do you calculate Standard Deviation?

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1. Find the mean of the data set. 2. Subtract the mean from each data point and square the result. 3. Find the average of those squared differences. 4. Take the square root of that average.

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What is the mean?

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The mean is the average of a data set, calculated by adding all the numbers together and dividing by the count of numbers.

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What is the relationship between Standard Deviation and the normal distribution?

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In a normal distribution, about 68% of the data falls within one Standard Deviation of the mean.

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What is the empirical rule?

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The empirical rule states that for a normal distribution: 68% of data falls within 1 SD, 95% within 2 SDs, and 99.7% within 3 SDs.

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What is a bell curve?

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A bell curve is a graphical representation of a normal distribution, showing that most data points cluster around the mean.

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What is the formula for calculating the variance?

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Variance is calculated as the average of the squared differences from the mean.

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What does it mean to be 2 standard deviations above the mean?

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It means the value is greater than the mean by twice the amount of the standard deviation.