After reading this article you will learn about the measures of dispersion which is designed to state numerically the extent to which individual observation vary in the average. Range: It is the difference between the largest and smallest observation. Range = Maximum value — Minimum value. Mean Deviation: Mean deviation is the arithmetic mean of absolute deviation from mean or [...]
In this article we will discuss about Mean Deviation:- 1. Meaning of Mean Deviation 2. Computation of Mean Deviation. Meaning of Mean Deviation: Deviation refers to the difference between the calculated means (arithmetic mean, median and mode) and the value of individual data. Mean deviation is the mean of the deviations of all data of a series from the real [...]
In this article we will discuss about the meaning and co-efficient of Variance. Meaning of Variance: It is very useful measure of dispersions which is commonly used for population data. The arithmetic mean of the squares of deviations obtained from the mean is referred to as variance. It is based on standard deviation and the square of the standard deviation [...]