The conversation between human and AI assistant.
What is difference between variance and standard deviation?
That's a clear explanation. Thanks. Can you give me an example to understand it better?
Sure. Let's say we have a set of numbers: 2, 4, 6, 8. To calculate the variance, we first need to find the mean, which is 5 in this case. Then, we subtract the mean from each of the numbers and square the result: (-3)^2, (-1)^2, 1^2, 3^2. We then find the average of these squared differences, which is 10. This is the variance. The standard deviation is simply the square root of variance, which in this case is approximately 3.16.