What is the meaning of Samona? How popular is the baby name Samona? Learn the origin and popularity plus how to pronounce Samona
Variance. Variance (Ï 2) is a measure of the dispersion of a set of data points around their mean value. In other words, variance is a mathematical expectation of the average squared deviations from the mean. It is computed by finding the probability-weighted average of squared deviations from the expected value. Variance measures the variability from an average (volatility).
If we summed the differences of the mean from each wage, we would get (5.50-7) + (7.50-7) + (8-7) = -1.50 + .50 + 1 = 0. Instead, we square the terms to obtain a variance equal to 2.25 + .25 + 1 = 3.50. This figure is a measure of dispersion in the set of scores.