Summary of Lecture 3.4 - Describing Numerical Data - Measures of dispersion- Range

measures of dispersion are important to understand the spread or variation in a data set, complementing measures of central tendency.

The range is the difference between the largest and smallest values in a data set, providing a simple measure of spread.

However, the range is sensitive to outliers and extreme values, leading to potential misinterpretations.

The variance, which considers all observations in a data set, is a commonly used measure of dispersion.

variance involves squaring the deviations of each data point from the mean, summing them, and dividing by the number of observations (n for population variance, n-1 for sample variance).

standard deviation, the square root of the variance, helps maintain the original units of measurement and is useful for comparing variability across different data sets.

Adding a constant to a data set does not change the variability, while multiplying by a constant changes the variability by a scalar multiple.

Speakers/sources

Notable Quotes

24:14 — « the standard deviation is nothing but the square root of the variance. »
28:44 — « the standard deviation of y would be c times the standard deviation of x. »
29:47 — « the standard deviation remains the same when adding a constant to the data set. »
30:33 — « when you multiply it with a constant, the standard deviation changes by a scalar multiple. »

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