Discover how to quickly calculate the sample variance of your data set. This essential statistical measure helps understand the spread and variability within a sample, providing crucial insights for data analysis and inference.
Formula:
The formula for sample variance (sĀ²) is:
s2 = Σ (xi - &xmacr;)2 / (n - 1)
- Σ: Summation
- xi: Each individual data point
- &xmacr;: The sample mean (average of all data points)
- n: The total number of data points in the sample (sample size)
- (n - 1): Degrees of freedom