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What is Variance and Standard Deviation?
In Statistics and Probability Theory, Variance is the measure of the spread of numbers, that is, how far they are spread. When the variance for a set of numbers is zero, it implies that all numbers are identical. It is calculated by finding out the mean of the numbers and then finding out the difference between each number and this mean. Squaring each of these differences and working out their mean gives the variance.
Standard Deviation and Variance are very closely related, they both measure the spread of a set of numbers. Both are measures of Viability. Standard deviation is the square root of Variance. It is represented by the Greek letter Sigma.
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