Difference in the theory and practice of probability

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Reference no: EM131166276

Historically, the most popular measure of variability has been the standard deviation, the square root of the weighted sum of squared deviations from the mean, weighted by their probabilities.

Suppose analysts had always used an alternative measure of variability, the weighted sum of the absolute deviations from the mean, again weighted by their probabilities.

Do you think this would have made a big difference in the theory and practice of probability and statistics?

Reference no: EM131166276

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