Nov 28, 2006 · It seems to me that I should be able to calculate the standard deviation for these sort of bell shaped curves without too much trouble, but our statistics teacher thinks the only way to do it is to roll the dice about a billion times, and go through these complicated equations for each individual roll. Isn't there an easier way?
Standard deviation is a statistical measurement in finance that, when applied to the annual rate of return of an investment, sheds light on the historical volatility of that investment. The ...
The answer to a relates to what is the smallest possible standard deviation you can possibly get. If every instance is equal to the mean, the standard deviation is 0. If you look at the definition of the standard deviation, it can never be less than zero, and it can only be zero if every observation equals the mean.
Standard deviation is an important calculation for math and sciences, particularly for lab reports. Scientists and statisticians use standard deviation to determine how closely sets of data are to the mean of all the sets. Fortunately, it's an easy calculation to perform. Many calculators have a standard deviation function.
Percent deviation measures the degree to which individual data points in a statistic deviate from the average measurement of that statistic. To calculate percent deviation, first determine the mean of the data and the average deviation of data points from that mean.
We can also calculate the variance σ 2 of a random variable using the same general approach. Note, based on the formula below, that the variance is the same as the expectation of (X – μ) 2. As before, we can also calculate the standard deviation σ according to the usual formula.