Question

If we use the mean as a model, what does the variance represent?

If we use the mean as a model, what does the variance represent?

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

A Variance (σ2) is a measurement of the spread between numbers in a data set. It measures how far each number in the set is from the mean.

A variance measures the variability from mean . A variance statistic can help determine the risk an invest or might assume when purchasing a specific security.

If a variance is zero it means all the numbers in the data set are identical and if variance is positive numbers and non zero it means numbers in the set are far from the mean and each other, while a small variance indicates the opposite.

In the Above formula:

  • σ2 is variance,χ is the value of an individual data point,μ is the mean of data points and N be the number of data points.
0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
What does the exponent of the regression coeffcient, exp(B), represent in a logistic regression model?
What does the exponent of the regression coeffcient, exp(B), represent in a logistic regression model?
in reference to correlation and regresssion, what does R represent and what does R2 represent?
in reference to correlation and regresssion, what does R represent and what does R2 represent?
Use the normal model N (1193, 63) for the weights of steers. A) what weight represent...
Use the normal model N (1193, 63) for the weights of steers. A) what weight represent the 32nd percentile? B) what weight represents the 98th percentile? C) what’s the IQR of the weights of these steers? Round to the nearest whole number as needed.
At times we all regret decisions. Does this necessarily mean we did not use the economic...
At times we all regret decisions. Does this necessarily mean we did not use the economic decision rule when making the decision?
True or False: If we know the mean and the variance of the normal distribution we...
True or False: If we know the mean and the variance of the normal distribution we know its shape.
Group #1: Smashed into mean and SD: Mean = 42.45, Variance = 45.31, SD = 6.73...
Group #1: Smashed into mean and SD: Mean = 42.45, Variance = 45.31, SD = 6.73 Group #2: Hit mean and SD:   M = 31.30, Variance = 38.43, SD = 6.20 1. Compute the effect size (Cohen’s d using the pooled variance). Which of the following is the effect size? Round 2 decimal points. A. Cohen’s d =2.10 B. Cohen’s d =1.12 C. Cohen’s d =2.50 D. Cohen’s d =2.13 2. What does the pooled Cohen’s d you obtained using...
23. Which of the following represent measures of variability (or dispersion)? a. variance and mean b....
23. Which of the following represent measures of variability (or dispersion)? a. variance and mean b. standard deviation and range c. standard deviation and mean d. median and mode 10. If a marketing manager is considering segmenting the market by age, which of the following differences between age groups in product usage rates would provide reliable evidence? a. a positive difference b. a mathematically significant difference c. a large difference d. a statistically significant difference 20. The regression coefficient b,...
What does it mean to change one's perspective from a "medical" model to a "public health"...
What does it mean to change one's perspective from a "medical" model to a "public health" model?
i want to know what does model fit mean & how to put it?
i want to know what does model fit mean & how to put it?
What does ‘aging in place mean’? How does this relate to the ecological model of aging...
What does ‘aging in place mean’? How does this relate to the ecological model of aging proposed by Lawton? In your discussion, include some ideas on how communities can help accommodate aging in place.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT