Calculating the variance from the expected value is a fundamental statistical operation used to measure the spread or dispersion of a set of data points. This variance provides valuable insights into the variability of observed values compared to the expected outcome.
Formula: Variance is calculated by taking the average of the squared differences between each observed value and the expected value.
How to Use:
- Enter the observed values in the input field, separating them with commas.
- Input the expected value.
- Click the “Calculate” button.
Example: Suppose you have observed values 10, 12, 15, 18, and the expected value is 14. Enter these values, click “Calculate,” and obtain the variance.
FAQs:
Q1: What is variance? A1: Variance measures the degree of spread or dispersion of a set of values from the expected value.
Q2: How is variance calculated? A2: Variance is calculated by taking the average of the squared differences between each observed value and the expected value.
Q3: Why is variance important? A3: Variance helps quantify the variability or consistency of a dataset, providing insights into the data’s distribution.
Q10: Can variance be negative? A10: No, variance is always non-negative as it involves squared differences.
Conclusion: Calculating variance from the expected value is a valuable statistical tool that aids in understanding the variability within a dataset. This simple online calculator makes the process quick and efficient for anyone dealing with statistical analysis.