In: Statistics and Probability
Explain how to calculate the variability with equations.
Variability:
Variability means the spread of values in data set. i.e it is dispersion in data set.
Range:
It is difference between the largest and smallest values of a set of data. It is simply
Range= largest value – lowest value.
Interquartile Range:
It is equal to the difference between the upper quartile and lower quartiles. Symbolically (Q3-Q1). It tells about the range of the middle 50 percent values of a set of data. In this measure lower 25 percent and upper 25 percent values are excluded.
Variance:
The average of the square of the deviations taken from mean is called variance. The population variance is denoted by σ2 and its estimate by s2.
i.e
σ2 =
Standard Deviation:
The positive square root of the variance is called standard deviation. i.e
σ= σ2 or s=s2