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#1 (permalink) |
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Got it
![]() ![]() Join Date: Jun 2008
Posts: 126
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Standard Dev shortcut
If you see two groups of numbers, and one group has a wider spread than the other, can you automatically assume that it has a greater standard dev? Or is there something else to look out for?
For example, the numbers 8,10,12,14,16 have a greater standard dev than 8,9,10,10,11,12. Can you think of examples that break this rule? |
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#4 (permalink) |
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Wouldbegood...
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Posts: 273
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Standard deviation is deviation from the mean... it is the ROOT of the AVERAGE of the SUM of the SQUARE of the DIFFERENCE betn each observation and the MEAN of the data...
Now we fortunately dont have to apply it like that... but what sd measures is the AVERAGE SPREAD OF THE DATA FROM THE MEAN... if you can visualize a cloud of data clustered around a line representing the mean value... then sd gives us the uniform width both above and below that line... As it is an average... larger spreads do not necessarily indicate larger sd... by spread i assume you mean the diff betn the largest and smallest observation... it is more dependant on the no of observations... It also means we can approximate sd as the average of the spread from the mean... NOTE: only the absolute diff betn the observation and the mean are to be taken... so the diff betn 2 and mean 4 isnt -2 its 2... Consider the 2 sets of observations 1 2 3 4 4 10... spread from mean... 3 2 1 0 0 6... average spread = 2 1 1 1 3 4 7 7 4... spread from mean... 3 3 3 1 0 3 3 0... average spread = 2.57 clearly the spread is greater in the second case even though the cloud is more compact... |
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#6 (permalink) | |
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Eager!
![]() Join Date: Jun 2008
Posts: 93
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Quote:
excuse me, I didn't understand your wording. Please make it clear. Last edited by econ_phd_2009 : 07-03-2008 at 06:49 AM. Reason: spelling mistake |
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#7 (permalink) |
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Eager!
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Posts: 79
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You have to see the spread wrt the mean. Why would it depend on the number of terms ? If you just took more values at equal distances around the mean, they'd cancel each other out.
I always make the mistake of seeing how far the numbers are from each other, rather than from their average. there is a question in the pp quant comp set which explained this well, and corrected my error. |
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#8 (permalink) | |
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Got it
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Posts: 126
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Quote:
You are comparing it to a set of 50 numbers, with a range of 1 to 50. Does the set of 50 numbers have a higher or lower standard dev than the set of 60? Or there's no way to tell without knowing the particular numbers? |
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#10 (permalink) | ||
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Wouldbegood...
![]() ![]() Join Date: Jun 2008
Posts: 273
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Quote:
Quote:
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