How do I calculate variance?
An example of an AI chatbot conversation about calculating variance in statistics.
How do I calculate variance?
To calculate variance, you first need to find the mean of your data set. Do you have a specific data set in mind?
Yes, I have the numbers: 4, 8, 6, 5, 3.
Great! First, calculate the mean: (4 + 8 + 6 + 5 + 3) / 5 = 5.2. Now, subtract the mean from each number and square the result.
Okay, I got: (4-5.2)², (8-5.2)², (6-5.2)², (5-5.2)², (3-5.2)². What’s next?
Now, calculate those squared differences: 1.44, 7.84, 0.64, 0.04, and 4.84. Add them up and divide by the number of data points.
The sum is 14.8. Dividing by 5 gives me 2.96. Is that the variance?
Exactly! The variance of your data set is 2.96. Well done!
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