While the standard deviation gives a general idea of spread, once the distribution of data is known, some very specific probabilities can be calculated from it. The range is simple to calculate.

So the more spread out the group of numbers are, the higher the standard deviation. A variance is the average of the squared differences from the mean. To figure out the variance, calculate the ...

it is easy to calculate the average or mean production. You just add up the three means and divide by three. But what if I want the average standard deviation of the three machines? The pooled ...

Investors often use standard deviation to quantify asset volatility. You can calculate standard deviation of an asset in a spreadsheet with a series of daily closing values. Standard deviation ...