Variance formula: Here

Here, we will discuss the definitions, formulas , and applications of mean, variance, and standard deviation in engineering, along with solved examples. Sample variance formula The population variance is written as σ 2, where σ is the population standard deviation. Population variance formula The mean is the average of the data, whereas the variance is a measure of how far each value in the data set is from the mean. The mean is a measure of centre and the variance is a measure of spread. Variance formula The variance formula is used to compute the variance of a given set of data. Variance is a measure of variability that indicates how far a set of values varies from the mean of the set. A data set with a high variance indicates that the data tends to be further from the mean, while a low variance indicates that the data does not deviate much from the mean. There are two commonly used forms of the variance formula : one for a population and for a sample. The type of data ... In probability theory and statistics, the variance formula measures how far a set of numbers are spread out. It is a numerical value and is used to indicate how widely individuals in a group vary. If individual observations vary considerably from the group mean, the variance is big and vice versa. A variance of zero indicates that all the values are identical. It should be noted that variance is always non-negative- a small variance indicates that the data points tend to be very close to the ...