Measures of Dispersion: Variance (2021)

Variance is one of the most important measures of dispersion of a distribution of a random variable. The term variance was introduced by R. A. Fisher in 1918. The variance of a set of observations (data set) is defined as the mean of the squares of deviations of all the …

Read Complete Post

Skewness and Measures of Skewness (2021)

If the curve is symmetrical, a deviation below the mean exactly equals the corresponding deviation above the mean. This is called symmetry. Here, we will discuss Skewness and Measures of Skewness. Skewness is the degree of asymmetry or departure from the symmetry of a distribution. Positive Skewness means when the …

Read Complete Post

Standard Deviation: A Measure of Dispersion (2017)

The standard deviation is a widely used concept in statistics and it tells how much variation (measure of spread or dispersion) is in the data set. It can be defined as the positive square root of the mean (average) of the squared deviations of the values from their mean.To calculate …

Read Complete Post

Skewness A Measure of Asymmetry (2017)

The skewed and askew are widely used terminologies that refer to something that is out of order or distorted on one side. Similarly, when referring to the shape of frequency distributions or probability distributions, the term skewness also refers to the asymmetry of that distribution. A distribution with an asymmetric …

Read Complete Post