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  • Common Measures of Dispersion

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    The document defines and provides Excel functions for several statistical measures: 1) Variance and standard deviation are measures of variability around the mean. Variance is the average squared deviation from the mean, while standard deviation is the positive square root of variance. 2) Range is the difference between the largest and smallest values in a data set. 3) Quartiles divide a sorted data set into four equal parts, with the quartiles defining the cut points between the parts. The interquartile range represents the mid-spread of the data by being the difference between the third and first quartiles.

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    The document defines and provides Excel functions for several statistical measures: 1) Variance and standard deviation are measures of variability around the mean. Variance is the average squared deviation from the mean, while standard deviation is the positive square root of variance. 2) Range is the difference between the largest and smallest values in a data set. 3) Quartiles divide a sorted data set into four equal parts, with the quartiles defining the cut points between the parts. The interquartile range represents the mid-spread of the data by being the difference between the third and first quartiles.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    4 views6 pages

    Common Measures of Dispersion

    Uploaded by

    imran
    The document defines and provides Excel functions for several statistical measures: 1) Variance and standard deviation are measures of variability around the mean. Variance is the average squared deviation from the mean, while standard deviation is the positive square root of variance. 2) Range is the difference between the largest and smallest values in a data set. 3) Quartiles divide a sorted data set into four equal parts, with the quartiles defining the cut points between the parts. The interquartile range represents the mid-spread of the data by being the difference between the third and first quartiles.

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    Variance

    Variance is a measure of the variability of data around the mean 𝜇𝜇


    𝒏𝒏
    𝟏𝟏
    𝒔𝒔𝟐𝟐 = �(𝒙𝒙𝒊𝒊 − 𝝁𝝁)𝟐𝟐
    𝒏𝒏 − 𝟏𝟏
    𝒊𝒊=𝟏𝟏

    EXCEL function: = VAR()

    Proprietary content. ©Great Learning. All Rights Reserved. Unauthorized use or distribution prohibited
    Standard Deviation
    Standard Deviation is just the positive square root of variance

    𝒏𝒏
    𝟏𝟏
    𝒔𝒔 = �(𝒙𝒙𝒊𝒊 − 𝝁𝝁)𝟐𝟐
    𝒏𝒏 − 𝟏𝟏
    𝒊𝒊=𝟏𝟏

    EXCEL function: = STDEV()

    Proprietary content. ©Great Learning. All Rights Reserved. Unauthorized use or distribution prohibited
    Range
    Range of a set of #s is the difference between the largest and smallest values

    𝐑𝐑 = 𝐋𝐋𝐋𝐋𝐋𝐋𝐋𝐋𝐋𝐋𝐋𝐋𝐋𝐋 − 𝐒𝐒𝐒𝐒𝐒𝐒𝐒𝐒𝐒𝐒𝐒𝐒𝐒𝐒𝐒𝐒

    EXCEL function: = MAX() − MIN()

     The MAX function in EXCEL returns the largest value in a given set of data

     The MIN function in EXCEL returns the smallest value in a given set of data

    Proprietary content. ©Great Learning. All Rights Reserved. Unauthorized use or distribution prohibited
    Quartiles

    Quartiles are values that divide a list of #s into 4 parts or quarters. To do this:
     Sort them (say, increasing order)

     Divide into 4 parts

     Quartiles are at the cutting points

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    Quartile Example
    #s are 2, 5 4, 4, 8, 7, 6 Median

    2 4 4 5 6 7 8

    Q1 Q2 Q3

    EXCEL function: = QUARTILE(… , 1 or 2 or 3)

    NOTE: Q2 is also the median


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    Interquartile Range (IQR)

     IQR is a measure of where the mid-50 of the data is


     It represents the mid-spread of the data

    𝑰𝑰𝑰𝑰𝑰𝑰 = 𝑸𝑸𝑸𝑸 − 𝑸𝑸𝑸𝑸

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