PIDE L13 C Measures of Spread & Variation
This Learning Unit discussed how we measure spread or variation in the data. The usual measure is Standard Deviation, which is the average of squared deviations from the mean. This measure is very sensitive to outliers. One or two extreme observations can have an extreme influence on this. The RANGE is similarly sensitive. The best measure is the IQR or Inter-Quartile Range.
This Learning Unit discussed how we measure spread or variation in the data. The usual measure is Standard Deviation, which is the average of squared deviations from the mean. This measure is very sensitive to outliers. One or two extreme observations can have an extreme influence on this. The RANGE is similarly sensitive. The best measure is the IQR or Inter-Quartile Range.
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