Probability Statistics - The Foundations of Machine Learning - Dispersion and Spread in Data, Variance, Standard Deviat

The video tutorial explains the limitations of using only mean or median to represent datasets, highlighting the need for measures of dispersion like variance and standard deviation. It details how to calculate variance by averaging squared distances from the mean and introduces standard deviation as the square root of variance. The tutorial also covers the coefficient of variation, a relative measure of dispersion, and emphasizes the importance of understanding these concepts in data analysis.

What is the relationship between standard deviation and variance?

How does the mean affect the interpretation of standard deviation?

Explain the concept of the coefficient of variation.