Standard deviation and variance

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Standard deviation and variance are how spread out the data is. This information is just as important as the mean or average because if the data is flat (standard deviation is large) then the data is spread out and difficult to predict. If the data distribution is small and the data is peaked then the variance is small and very predictable. In manufacturing you want a small standard deviation. In education you want a large standard deviation.

There is little variation in salt in McDonald's French fries. There is a large variation in what kind of coffee people prefer.

Can you think of other small and wide variation examples?

Reference no: EM132580653

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