What is Population Variance?
Population variance determines how far each data point is from the population mean. It can be defined as the average of the square of the deviations from the data’s mean value. If all data points are very close to the mean, the variance will be small; if data points are spread out over a wide range, the variance will be larger.
Population Variance
Population variance is a fundamental concept in statistics that quantifies the average squared deviation from the mean of a set of data points in a population. It is a measure of how spread out a group of data points is.
There are two types of data available, namely, ungrouped and grouped data. Thus, there are two formulas to calculate the population variance. In this article, we will learn more about population variance, its formulas, and various associated examples.
Table of Content
- What is Population Variance?
- Formula of Population Variance
- Ungrouped Data
- Grouped Data
- Population Variance and Sample Variance
- Population Variance and Standard Deviation
- Solved Problems on Population Variance
- Practice Questions on Population Variance
- FAQs on Population Variance