Methods of Calculating Standard Deviation in Individual Series

Methods of Calculating Standard Deviation in Individual Series

Actual Mean MethodDirect MethodShort-Cut Method or Assumed Mean Method...

1. Actual Mean Method:

In actual mean method, standard deviation is calculated by taking deviations from the actual mean. The steps taken to determine standard deviation through the actual mean method are as follows:...

2. Direct Method:

In Direct Method, there is no need to determine the deviation from the actual mean to calculate standard deviation. The steps taken to determine standard deviation through the direct method are as follows:...

3. Short-Cut Method (Assumed Mean Method):

Actual Mean can sometimes come in fractions which can make the calculation of standard deviation complicated and difficult. In those cases, it is suggested to use Short-Cut Method to simplify the calculations. The steps taken to determine standard deviation through the assumed mean method are as follows:...