06 May 2018

🔬Data Science: Variance (Definitions)

"The mean squared deviation of the measured response values from their average value." (Clyde M Creveling, "Six Sigma for Technical Processes: An Overview for R Executives, Technical Leaders, and Engineering Managers", 2006)

"The variance reflects the amount of variation in a set of observations." (Glenn J Myatt, "Making Sense of Data: A Practical Guide to Exploratory Data Analysis and Data Mining", 2006)

"Describes dispersion about the data set’s mean. The variance is the square of the standard deviation. Conversely, the standard deviation is the square root of the variance." (E C Nelson & Stephen L Nelson, "Excel Data Analysis For Dummies ", 2015)

"Summary statistic that indicates the degree of variability among participants for a given variable. The variance is essentially the average squared deviation from the mean and is the square of the standard deviation." (K  N Krishnaswamy et al, "Management Research Methodology: Integration of Principles, Methods and Techniques", 2016)

"A statistical measure of how spread (or varying) the values of a variable are around a central value such as the mean." (Jonathan Ferrar et al, "The Power of People", 2017)

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