There are some examples when we want the high standard deviations.
The situation when we want to data have large standard deviation is the quality score of the rival's product.
Another example is --
Suppose we run a lottery company. Sometimes the jackpot of a lottery can be an extraordinary amount of money. Thus, in order for the company to be profitable, they would only want a minimal amount of people to take home that jackpot prize. In this case, a large standard deviation would be best.
Get Answers For Free
Most questions answered within 1 hours.