Math and Arithmetic
Statistics

# How do you calculate salary variance?

345 ###### 2008-11-11 13:49:38

I believe you are interested in calculating the variance from a set of data related to salaries. Variance = square of the standard deviation, where: s= Square root[sum (xi- mean)2/(n-1)] where mean of the set is the sum of all data divided by the number in the sample. X of i is a single data point (single salary). If instead of a sample of data, you have the entire population of size N, substitute N for n-1 in the above equation. You may find more information on the interpretation of variance, by searching wikipedia under variance and standard deviation. I note that an advantage of using the standard deviation rather than variance, is because the standard deviation will be in the same units as the mean.

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