The standard deviation is a statistical tool that highlights the spread of a dataset in relation to its average value or mean. It's derived by calculating the square root of the variance, which is essentially the mean of the squared discrepancies from the mean. A small standard deviation is indicative of data points being closely clustered around the mean.
| Topic | Problem | Solution |
|---|---|---|
| None | A random sample of 5 data points, 4, 6, 8, 10 and… | Step 1: Calculate the mean (average) of the data set. The formula for the mean is: \(\frac{\sum x}{… |