Commerce Exam > Commerce Videos > Statistics for Economics - Class XI > Standard Deviation - 1
Standard Deviation - 1 Video Lecture | Statistics for Economics - Class XI - Commerce
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51 videos|41 docs|12 tests
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FAQs on Standard Deviation - 1 Video Lecture - Statistics for Economics - Class XI - Commerce
| 1. What is standard deviation and why is it important in statistics? |  |
Ans. Standard deviation is a measure of how spread out the values in a data set are around the mean. It helps to understand the variability or dispersion of the data points. In statistics, it is used to analyze and compare the consistency of different sets of data.
| 2. How is standard deviation calculated? | |
Ans. Standard deviation is calculated by taking the square root of the variance. The variance is obtained by computing the average of the squared differences between each data point and the mean. The square root of the variance gives the standard deviation, which is expressed in the same units as the original data.
| 3. What does a high standard deviation indicate? | |
Ans. A high standard deviation indicates that the data points are spread out over a larger range and are more dispersed from the mean. It suggests that there is a greater variability among the values in the data set.
| 4. How is standard deviation useful in finance and investing? | |
Ans. In finance and investing, standard deviation is used as a measure of risk. It helps investors to assess the volatility or uncertainty associated with an investment's returns. A higher standard deviation implies a greater potential for both positive and negative swings in the investment's value.
| 5. Can standard deviation be negative? | |
Ans. No, standard deviation cannot be negative. It is always a non-negative value. The square root of the variance, which is the basis for calculating standard deviation, ensures that the result is positive or zero.
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Nov 22, 2024 Last updated |
Video Description: Standard Deviation - 1 for Commerce 2024 is part of Statistics for Economics - Class XI preparation.
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Video Lecture & Questions for Standard Deviation - 1 Video Lecture | Statistics for Economics - Class XI - Commerce - Commerce full syllabus preparation | Free video for Commerce exam to prepare for Statistics for Economics - Class XI.
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