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What does variance tell you?

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What does the variance tell us?

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What does variance tell you about a data set?

Variance is the expected value of the squared deviation of a random variable from its mean. In short, it is the measurement of the distance of a set of random numbers from their collective average value. Variance is used in statistics as a way of better understanding a data set’s distribution.

What are examples of variance?

Var(CX) = C2.Var(X), where C is a constant.Var(aX + b) = a2.Var(X), where a and b are constants.If X1, X2,……., Xnare n independent random variables, then

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