How do you find the range and standard deviation?
When time is short and you just want a rough estimate of the standard deviation, turn to the range rule to quickly estimate the standard deviation value. The standard deviation is approximately equal to the range of the data divided by 4. That's it, simple.
What is considered a low standard deviation?
Low standard deviation means data are clustered around the mean, and high standard deviation indicates data are more spread out. A standard deviation close to zero indicates that data points are close to the mean, whereas a high or low standard deviation indicates data points are respectively above or below the mean.
Is one standard deviation significant?
One standard deviation, or one sigma, plotted above or below the average value on that normal distribution curve, would define a region that includes 68 percent of all the data points. Two sigmas above or below would include about 95 percent of the data, and three sigmas would include 99.
Is range greater than standard deviation?
The smaller your range or standard deviation, the lower and better your variability is for further analysis. The range is useful, but the standard deviation is considered the more reliable and useful measure for statistical analyses. In any case, both are necessary for truly understanding patterns in your data.
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