Sample Variance
Now explore sample variance. The concept is similar to population variance, but the formula differs slightly because the data represents only a subset of the entire population.
Formula
variance=nβ1βi=1nβ(xiββxΛ)2βWhere:
- n - sample size;
- i - index of each element;
- xiβ - each element;
- xΛ - sample mean value.
Look at the example of variance rounded to two decimal points for the column 'salary_in_usd'
:
The variance of the column 'salary_in_usd'
is 5034932663.18
Variance Key Note
The variance of the 'salary_in_usd'
column is quite substantial, indicating that the values in this column are widely spread out.
The greater the variance, the more the values are scattered.
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Sample Variance
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Now explore sample variance. The concept is similar to population variance, but the formula differs slightly because the data represents only a subset of the entire population.
Formula
variance=nβ1βi=1nβ(xiββxΛ)2βWhere:
- n - sample size;
- i - index of each element;
- xiβ - each element;
- xΛ - sample mean value.
Look at the example of variance rounded to two decimal points for the column 'salary_in_usd'
:
The variance of the column 'salary_in_usd'
is 5034932663.18
Variance Key Note
The variance of the 'salary_in_usd'
column is quite substantial, indicating that the values in this column are widely spread out.
The greater the variance, the more the values are scattered.
Thanks for your feedback!