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Advantages of Standard Deviation.pptx
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- 2. • What isStandard 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 ofStandard 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 Standarddeviation There are two types of standard deviation , Frequency series Simple series
- 6. Test Scores Marketing Human Resources WeatherForecasting Use in daily life We can use standard deviation in our daily life.
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- 8. Advantages of StandardDeviation • 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 discussionis 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.