Variance
Variance is defined as, “The measure of how far the set of data is dispersed from their mean value”. Variance is represented with the symbol σ2. In other words, we can also say that the variance is the average of the squared difference from the mean.
Properties of Variance
Various properties of the Variance of the group of data are,
- As each term in the variance formula is firstly squared and then their mean is found, it is always a non-negative value, i.e. mean can be either positive or can be zero but it can never be negative.
- Variance is always measured in squared units. For example, if we have to find the variance of the height of the student in a class, and if the height of the student is given in cm then the variance is calculated in cm2.
Learn more about, How to calculate Variance?
Variance and Standard Deviation
Variance and Standard Deviation are the important measures used in Mathematics and Statics to find the meaning from a large set of data. The different formulas for Variance and Standard Deviation are highly used in mathematics to determine the trends of various values in mathematics. Variance is the measure of how the data points vary according to the mean while standard deviation is the measure of the central tendency of the distribution of the data.
The major difference between variance and standard deviation is in their units of measurement. Standard deviation is measured in a unit similar to the units of the mean of data, whereas the variance is measured in squared units.
Here in this article, we will learn about variance and standard deviation including their definitions, formulas, and their differences along with suitable examples in detail.
Table of Content
- Variance
- Variance Formula
- Standard Deviation
- Standard Deviation Formula
- Relation between Standard Deviation and Variance
- Differences Between Standard Deviation and Variance