Population Variance

Variance measures how much the values in a dataset deviate from the mean. It provides insight into the spread or dispersion of the data. To better understand this concept, examine the distribution of salaries in the dataset.

The formula for calculating variance differs depending on whether you're working with a sample or an entire population. In this chapter, the focus is on calculating population variance.

Explanation

Population variance is calculated by summing the squares of the differences between each data point and the population mean, and then dividing by the number of elements in the population.

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Section 3. Chapter 1

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Course Content

Learning Statistics with Python

1. Basic Concepts

Sample vs Population Types of Statistics Types of Data Mean Value Median Value Median Value of the Even Number of Values Mean or Median Mode Value Descriptive Statistics Quiz

2. Mean, Median and Mode with Python

Examine the Dataset Calculating Mean and Median Values with Python Statistics with pandas Calculate the Mean and Median Salary

3. Variance and Standard Deviation

Population Variance Sample Variance Calculate Variance with Python Standard Deviation Standard Deviation with Python Calculating Variance and Standard Deviation

4. Covariance vs Correlation

Covariance Correlation Covariance and Correlation Quiz Calculate Covariance and Correlation

5. Confidence Interval

6. Statistical Testing