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Standard Deviation Video Lecture | Economics for Grade 11

FAQs on Standard Deviation Video Lecture - Economics for Grade 11

1. What is standard deviation in statistics?

Ans. Standard deviation in statistics is a measure of the amount of variation or dispersion of a set of values. It shows how much individual values in a dataset differ from the mean of the dataset.

2. How is standard deviation calculated?

Ans. Standard deviation is calculated by taking the square root of the variance. The variance is calculated by taking the average of the squared differences between each value in the dataset and the mean of the dataset.

3. What does a high standard deviation indicate?

Ans. A high standard deviation indicates that the values in a dataset are spread out over a wider range, suggesting that there is a greater amount of variation or dispersion among the values.

4. How is standard deviation used in data analysis?

Ans. Standard deviation is commonly used in data analysis to assess the consistency or variability of a dataset. It helps in understanding the spread of data points and identifying outliers or unusual values.

5. Can standard deviation be negative?

Ans. No, standard deviation cannot be negative. It is always a non-negative value since it is the square root of the variance, which involves squaring the differences between values and the mean.

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Sep 21, 2025 Last updated

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	Economics for Grade 11 83 videos\|230 docs\|49 tests

Economics for Grade 11

83 videos|230 docs|49 tests

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