Define standard deviation, index of dispersion, and range.

Expert Solution

Standard deviation : Standard deviation is the measure of dispersion of a set of data from its mean. It measures the absolute variability of a distribution; the higher the dispersion or variability, the greater is the standard deviation and greater will be the magnitude of the deviation of the value from their mean.
Index of dispersion : The index of dispersion is a measure of dispersion for nominal variables and partially ordered nominal variables. It is usually defined as the ratio of the variance to the mean.

if we define mean by and variance by then the index of dispersion will be

ID =

Range : In statistics, the range of a set of data is the difference between the largest and smallest values. However, in descriptive statistics, this concept of range has a more complex meaning. The range is the size of the smallest interval which contains all the data and provides an indication of statistical dispersion.

orchestra answered 2 years ago

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Question

Define standard deviation, index of dispersion, and range.

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