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Using standard deviations someone can tell how likely a person is to do something, or how often the majority do, e.g. how much electricity is used by 90% of people or how likely they are to use a certain amount.

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13y ago

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What is the relevance of standard deviation in business?

What_is_the_relevance_of_standard_deviation_in_business


How do you use standard deviation?

Standard deviation is a measure of how spread out a set of numbers are from each other. It has a variety of uses in statistics.


What are the uses of standard forms in real life?

standard deviation is the correctiness of reliability of the mean


What are the assumptions of standard deviation?

The standard deviation is the standard deviation! Its calculation requires no assumption.


What is the relation between quartile deviation and standard deviation?

Strictly speaking, none. A quartile deviation is a quick and easy method to get a measure of the spread which takes account of only some of the data. The standard deviation is a detailed measure which uses all the data. Also, because the standard deviation uses all the observations it can be unduly influenced by any outliers in the data. On the other hand, because the quartile deviation ignores the smallest 25% and the largest 25% of of the observations, there are no outliers.


What does the sample standard deviation best estimate?

The standard deviation of the population. the standard deviation of the population.


What is standard deviation of 155.45?

The standard deviation is 0.


If quartile deviation is 24. find mean deviation and standard deviation?

Information is not sufficient to find mean deviation and standard deviation.


Application of standard deviation in business?

Standard deviation helps business understand the research they have done on their potential customers. If the information deviates by one, then they know that they can rely on the information more so than research that deviates to standards deviations away from the mean.


What is the relationship between standard deviation and variance?

Standard deviation is the square root of the variance.


What is the standard deviation of a standard normal distribution?

The standard deviation in a standard normal distribution is 1.


What is the difference between standard error of mean and standard deviation of means?

Standard error of the mean (SEM) and standard deviation of the mean is the same thing. However, standard deviation is not the same as the SEM. To obtain SEM from the standard deviation, divide the standard deviation by the square root of the sample size.