Sample Variance

Now it's time to explore sample variance. While the concept is similar to population variance, the formula is slightly different to account for the fact that the data represents only a subset of the entire population.

Formula

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.

Note

The greater the variance, the more the values are scattered.

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Cursusinhoud

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

What is t-test Hypotheses t-test Mathematically One-Tailed And Two-Tailed Test t-test Assumptions Performing a t-test in Python Conduct a t-test Paired t-test