This document discusses measures of variability, or dispersion, which describe how spread out values are in a distribution. The five most commonly used measures are the range, interquartile range, variance, standard deviation, and coefficient of variation. The standard deviation is the most widely used measure for interval or ratio data, as it indicates the average deviation of values from the mean and describes whether a sample is heterogeneous or homogeneous. The standard deviation is calculated by computing the sum of squared deviations from the mean, dividing by the sample size minus one, and taking the square root.