Standard Deviation is an important statistical concept which is of immense importance in other fields too, such as mathematics, physics, finance, industries, experimental physics, etc. So from a statistical viewpoint, a standard deviation is the quantitative measure of how far or how close the data points are dispersed from the mean of the data. So today we shall discuss standard deviation examples and easy-step-by-step guide to find out the standard deviation of a data set.
The standard deviation is represented by the Greek symbol σ . Both standard deviation and variance are important statistical measures and standard deviation is actually the square root of variance. But there is a bit difference in both of them, as standard deviation is expressed in the same quantity as the mean, while variance is expressed in square terms.
Now we shall explain to you how to calculate the standard deviation for various categories of data. First let us tell you the formula for standard deviation.
The standard deviation is calculated using the formula
Here, ∑ represents the “sum of”, x is any value of the data set, μ is the mean of the data group and N is the number of poingts in the data group.
As students, sometimes we might find it confusing to calculate the standard deviation of a data set. We might get teh steps wrong, and end up with errors in results. But if you know the correct procedure about how to calculate the standard deviation, you can e