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Understanding Variance in Statistics: Definition, Calculating Steps, & Examples

Monday - January 22, 2024

The variance of the data set measures how much each point differs from the mean or average. It can be defined as the average of the squared deviations from the mean value. It is the positive square of the standard deviation. The abbreviation “Var” is frequently used to represent variance in a statistics context.  Variance Understanding Variance in Statistics: Definition, Calculating Steps, & Examples