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Deviation Measures
The drawback of the range as a measure of dispersion is that it takes into account the values of only two data points - the largest and the smallest.
One way to have a dispersion measure that takes into account every data point is to use deviations. Deviation means difference. We can find the average of the deviations of the data points from a fixed value.
AP = deviation of A from P BP = deviation of B from P CP = deviation of C from P
AP = deviation of A from P
BP = deviation of B from P
CP = deviation of C from P
We can find average deviation of a set of observations from any fixed number.
Universe or Population The word universe as used in statistics denotes the aggregate from which a sample is to be taken. According to Simpson and Kafka, a universe or populatio
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Factor analysis (FA) explains variability among observed random variables in terms of fewer unobserved random variables called factors. The observed variables are expressed in
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