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In probability theory and statistics, variance is the expected value of the squared deviation from the mean of a random variable. The standard deviation (SD) is obtained as the square root of the variance. Variance is a measure of dispersion, meaning it is a measure
In statistics, dispersion (also called variability, scatter, or spread) is the extent to which a distribution is stretched or squeezed. [1] Common examples of measures of statistical dispersion are the variance, standard deviation, and interquartile range. For instance, when the variance of data in a set is large, the data is widely scattered.
Risk is an important factor in determining how to efficiently manage a portfolio of investments because it determines the variation in returns on the asset or portfolio and gives investors a mathematical basis for investment decisions (known as mean-variance optimization). The fundamental concept of risk is that as it increases, the expected ...
Climate variability is the term to describe variations in the mean state and other characteristics of climate (such as chances or possibility of extreme weather, etc.) "on all spatial and temporal scales beyond that of individual weather events." Some of the variability does not appear to be caused by known systems and occurs at seemingly ...
The data set [90, 100, 110] has more variability. Its standard deviation is 10 and its average is 100, giving the coefficient of variation as 10 / 100 = 0.1; The data set [1, 5, 6, 8, 10, 40, 65, 88] has still more variability. Its standard deviation is 32.9 and its average is 27.9, giving a coefficient of variation of 32.9 / 27.9 = 1.18
This common-cause variation is evident from the experience base. However, new, unanticipated, emergent or previously neglected phenomena (e.g. "new diseases") result in variation outside the historical experience base. Shewhart and Deming argued that such special-cause variation is fundamentally unpredictable in frequency of occurrence or in ...
Variability hypothesis, nineteenth century hypothesis that males have a greater range of ability than females; Variable (disambiguation) Variable renewable energy, a renewable energy source of a fluctuating nature; Variance, a specific measure of statistical dispersion; Variation (disambiguation)
In words: the variance of Y is the sum of the expected conditional variance of Y given X and the variance of the conditional expectation of Y given X. The first term captures the variation left after "using X to predict Y", while the second term captures the variation due to the mean of the prediction of Y due to the randomness of X.