Variance

The variance measures the spread between numbers in a dataset. Simply put, it measures how far each number in the set is from the mean (average). It helps us understand how spread out or consistent the values are in a dataset.

Variance is calculated by averaging the squared differences from the mean. First, find the mean of your data set. Then, subtract the mean from each data point, square those differences, sum them up, and finally, divide by either (n-1) for a sample or n for a population, where n is the number of data points.

Variance can't be interpreted in the original units of measurement due to its squared nature, which is why it is often used in conjunction with its square root, the standard deviation.

Visit the following resources to learn more:

• @article@What is Variance?
• @article@How to Calculate Variance