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I understand how to calculate standard deviation but what does it find? For example, the population standard deviation of 4, 7 and 8 is 1.7
I understand how to calculate standard deviation but what does it find? For example, the population standard deviation of 4, 7 and 8 is 1.7 but what does this number mean? Also please explain what is variance and what is the differnece between variance and standard deviation.
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