1. Sample Standard Deviation (s) — Bessel's Correction
s=√
∑ (xᵢ − x̄)²n − 1
2. Population Standard Deviation (σ)
σ=√
∑ (xᵢ − μ)²N
Step-by-Step Calculation Breakdown
Step 1: Calculate the Mean (x̄) for Dataset [ 10, 20, 30, 40 ]
x̄=
10 + 20 + 30 + 404
=25.00Step 2: Sum of Squared Differences ∑ (xᵢ − x̄)²
SS=(10 − 25)² + (20 − 25)² + (30 − 25)² + (40 − 25)²=225 + 25 + 25 + 225=500.00
Step 3: Sample Variance & Standard Deviation (n − 1 = 3)
s²=500 / 3 = 166.67→s=√166.67=12.91
Key Statistical Concepts
- Variance: The average of squared deviations from the mean. Expressed in squared original units.
- Standard Deviation: The square root of variance, reverting the scale back into the original units of measurement.
- Coefficient of Variation (CV): The ratio of standard deviation to the mean, ideal for comparing variability across disparate unit scales.