Question

what are ways that the most commonly used measure of variation and standard deviation can be...

what are ways that the most commonly used measure of variation and standard deviation can be applied to real life examples in a student's chosen field of study?

Homework Answers

Answer #1

I have answered the question below

Please up vote for the same and thanks!!!

Do reach out in the comments for any queries

Answer:

Standard deviation and Variation is utilized for a wide range of inquiries where statistical inference is valuable, among them theory testing and experimentation of assorted types, AI and machine learning. It is helpful when attempting to think of an expectation for quite a while arrangement information like investment related forecasts, climate expectations etc. In assembling plants it is utilized for quality control/screening.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
In chapter 3, it was noted that the mean is the most commonly used measure of...
In chapter 3, it was noted that the mean is the most commonly used measure of central tendency. Partly because variance and standard deviation are directly related to the mean, these two values are the most common measures of variability. Explain how variance and standard deviation are related to the mean.
When doing a descriptive analysis for continuous variable, which measures are most commonly used: -a measure...
When doing a descriptive analysis for continuous variable, which measures are most commonly used: -a measure of central tendency (mean or median) -a count of how many people selected each response option (frequency) -a measure of dispersion (standard deviation) -all of the above -1 & 3 What is the most important reason we do data analysis for marketing? -to impress our bosses -to help improve manager's decision quality -to turn data into information -to increase the visual impact of our...
Why is the coefficient of variation preferred over standard deviation as a measure of volatility?
Why is the coefficient of variation preferred over standard deviation as a measure of volatility?
The standard deviation alone does not measure relative variation. For example, a standard deviation of $1...
The standard deviation alone does not measure relative variation. For example, a standard deviation of $1 would be considered large if it is describing the variability from store to store in the price of an ice cube tray. On the other hand, a standard deviation of $1 would be considered small if it is describing store-to-store variability in the price of a particular brand of freezer. A quantity designed to give a relative measure of variability is the coefficient of...
The standard deviation alone does not measure relative variation. For example, a standard deviation of $1...
The standard deviation alone does not measure relative variation. For example, a standard deviation of $1 would be considered large if it is describing the variability from store to store in the price of an ice cube tray. On the other hand, a standard deviation of $1 would be considered small if it is describing store-to-store variability in the price of a particular brand of freezer. A quantity designed to give a relative measure of variability is the coefficient of...
Standard deviation and beta are both used to measure the risk of a stock. Explain each...
Standard deviation and beta are both used to measure the risk of a stock. Explain each measure- what does it mean and how is it calculated? Which measure would you recommend for a well-diversified investor? Why?
The coefficient of variation and the standard deviation are two measures of variability or dispersion among...
The coefficient of variation and the standard deviation are two measures of variability or dispersion among data values. Provide two different sets of ten data points each as examples. Calculate the standard deviation and coefficient of variation for each data set, being sure to attach your Excel file to show your work. Explain which of the two mentioned measures can more accurately specify which of these two data sets has more variability or dispersion in their data values and why.
Classical Statistical Theory: Discuss how the calculation of the coefficient of variation (ratio of the standard...
Classical Statistical Theory: Discuss how the calculation of the coefficient of variation (ratio of the standard deviation to the mean) can be applied in budget variance analysis and what budget models is the application best applied.
In what ways can applied or field research provide service to communities?
In what ways can applied or field research provide service to communities?
Social Influence. What are other ways that social influence can impact behavior? Discuss at least two...
Social Influence. What are other ways that social influence can impact behavior? Discuss at least two examples from the book (e.g., Milgram's experiment, Stanford Prison study, etc.) and examples that you may have noticed in your own life.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT