Measures of Dispersion
Measures of dispersion calculate the extent to which the values are spread out from the average. In other words, they show the scateredness or variability of the values from their arithmetic mean.
Characteristics of an Ideal Measure of Dispersion
- It should be rigidly defined.
- It should be easy to calculate and easily understandable.
- It should be calculated considering all the available observations.
- It should be amenable to further mathematical treatments.
- It should be least affected by sampling fluctuations.
The measures of dispersion include: variance, standard deviation, and range. We’ll look at these in the next few lessons.