Standard Deviation
Description
The standard deviation is the average amount of variability in your dataset. It tells you, on average, how far each value lies from the mean. A high standard deviation means that values are generally far from the mean, while a low standard deviation indicates that values are clustered close to the mean.
Formula
\[ \sigma = \sqrt{\frac{\sum{(x_i - \mu)^2}}{N}} \]
- \(\sigma\) = population standard deviation
- \(N\) = the size of the population
- \(x_i\) = each value from the population
- \(\mu\) = the population mean
Example
