Standard deviation is a measure of how dispersed data points are from the average. It quantifies the variation or dispersion from the mean. There are two types of standard deviations: frequency series and simple series. Standard deviation is useful in various fields like test scores, marketing, human resources, and weather forecasting. It has advantages like showing how clustered data is around the mean, giving a more accurate distribution picture, and being less affected by outliers.
2. • What is Standard deviation
• Key points of Standard deviation
• Types of Standard deviation
• Use in daily life
• Example
• Advantages of Standard Deviation
• Conclusion
Index
3. A standard deviation (or σ) is a measure of how the data is in relation to the
mean. A standard deviation close to zero indicates that data points are close to
the mean, where as a high or low standard deviation indicates data points are
respectively above or below the mean.
Standard deviation
formula
4. Key points of Standard deviation
• Standard deviation is the measure of dispersion of a set of data from its mean.
• Standard deviation is denoted by σ
• Standard deviation measures the dispersion of a dataset relative to its
mean.
• It is calculated as the square root of the variance.
5. Types of Standard deviation
There are two types of standard deviation ,
Frequency series
Simple series
8. Advantages of Standard Deviation
• Shows how much data is clustered around a mean value
• It gives a more accurate idea of how the data is distributed
• Not as affected by extreme values
9. Conclusio
n
• Today’s discussion is that what is standard deviation, key points of standard
deviation, types of standard deviation, use standard deviation in daily life, some
examples and the last one is advantage of standard deviation.
• standard deviation might be a simple formula, but it has many uses in daily life. It
mostly used in the finance sector to calculate the risk. The standard deviation is a
much popular method.
