Variance

Variance is the average of the squared differences between the values and the Mean in a series of numbers. The formula for variance is:

S2 =

Snt=1 (Xt - µt)2
__________
n-1

The variables used in variance are defined as follows:

  • X = the value of the statistic
  • n = the number of values
  • µ= the Mean of all the values