The term "variability" means "loss of consistency," and it refers to the degree to which data varies. Variability is measured by variance, standard deviation, interquartile range, and range. The average squared deviation of a random variable from its mean is called variance.
Variability measures are numbers that describe the diversity or dispersion of a variable's distribution. A box plot is a graphic representation of a variable's range, interquartile range, and median.
Range, IQR, and Variance are three main measures of variation
You must be able to analyse the degree to which data values are spread out in a distribution using basic metrics in order to best depict the data's variability.
The variance is a metric for determining how variable something is. The average of squared deviations from the mean is used to calculate it. The degree of spread in your data set is measured by variance. The bigger the variance in respect to the mean, the more spread out the data is.
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