2- Understanding Variance
Sep 9, 2018 · 2 min read
Variance- It is the average of squared of distance from the mean.

Let us look at the figure Variance Example I. Here, the number of data points are 6 with each data point as 100.
The mean is 100 and Variance is 0 as shown in the below calculation.

— — — — — — — — — — — — — — — — — — — — — — — — — — — — — — —
Now, let’s change one to the data points to 102 as shown in the fig Variable Example II. The mean has increased to 100.33 and Var is 0.56 as shown in the below calculation.

Population Variance- It is the average of squared of distance from the population mean.

Sample Variance- It is the average of squared of distance from the sample mean. It is denoted by s-square

