Web Reference: A useful property of the standard deviation is that, unlike the variance, it is expressed in the same unit as the data. Standard deviation can also be used to calculate standard error for a finite sample, and to determine statistical significance. Understanding the standard deviation is crucial. While the mean identifies a central value in the distribution, it does not indicate how far the data points fall from the center. Higher SD values signify that more data points are further away from the mean. In other words, extreme values occur more frequently. Variability is everywhere. When you or... Learn how to calculate and interpret the standard deviation and variance of a set of numbers. See examples, formulas, charts and explanations of how to measure how spread out the data is.
YouTube Excerpt: The video above is more focused on the concept. This other one explains how it's calculated: ...
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