Lec 9: Statistics 6 - Measure of Dispersion : Variance and Standard Deviation.

1. Variance (σ² or s²): Measures the average squared distance of data points from the mean. Because it involves squared values, its units are in squared units of the original data (e.g., squared inches).
2. Standard Deviation (σ or s): The square root of the variance. It is much easier to interpret practically because it returns the data to its original unit of measurement (e.g., inches), representing the typical distance of a data point from the mean.
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