Measures Of Variability

Measures of variability are statistical measures that describe the spread or dispersion of a dataset. They provide information about how much the individual data points deviate from the central tendency of the data. The most commonly used measures of variability are range, variance, and standard deviation. Range is the difference between the maximum and minimum values in a dataset. Variance is the average of the squared differences from the mean, while standard deviation is the square root of the variance. These measures are important in data science because they help to identify outliers and understand the distribution of the data. They are also used in hypothesis testing and in the construction of confidence intervals.
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