Standard Deviation Example: 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.
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- How To Find Mean
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.
Formula of Standard Deviation Example
The standard deviation is represented by the Greek symbol σ. Both standard deviation and variance are important statistical measures and the standard deviation is actually the square root of variance. But there is a bit of 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 points 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. If anyone wants the worksheet of Standard Deviation problems, they can tell us through the comment.
All symbols of the Formula of Standard Deviation have been given above. You can check.