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Essay On Standard Deviation

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Standard deviation is one of three measures of dispersion. Standard deviation is a very difficult and complex measure of dispersion. Standard deviation is a measure of the spread or variability of scores within a set of data. The standard of deviation is used to quantify the amount of the dispersion or variation of a set of data values. Standard deviation measures ordinal, interval and ratio variables. The standard deviation “provides a sort of average of the differences of all scores from the mean” (Brown, 1988). Standard deviation and the range are similar but the standard deviation isn’t as affected by aberrant scores that are exceptionally low or high. Standard deviation is useful for both binary and non-binary response scales (Conway …show more content…

The index of dispersion is used to measure nominal and partially ordered ordinal variables. The index of dispersion is not typically used to measure dispersion. Nominal and ordinal variables don’t have many measures of association. The index of dispersion is the ratio of the variance to the mean. The index of dispersion can be used to compare the volatility of different assets. The index of dispersion is used to measure the dispersion of a probability distribution. The best measure of dispersion for the variable Home would be the range. Another possible measurement would also be the index of dispersion. Index of dispersion measures nominal and partially ordered ordinal variables. The range is also used to measure nominal variables. The best level of measurement for the variable Home would be a nominal variable. Index of dispersion and the range is the only measure that can be used to measure the dispersion of a nominal variable. The index of dispersion is the ratio of the variance to the mean. The range is an easily calculated measure of dispersion that is the difference between the largest and smallest observation in the data set. The range measure on page 114 for the variable Home would be 5. The range has limited practical uses and is influenced by outliers (McCluskey, Lalkhen;

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