Measures of Variability
Measures of variability are statistical tools that describe how spread out or diverse a set of data points is. Common measures include range, variance, and standard deviation. The range is the difference between the highest and lowest values, while variance and standard deviation provide insights into how much individual data points differ from the mean.
These measures help researchers and analysts understand the consistency of data. A low variability indicates that data points are close to the mean, suggesting uniformity, while high variability shows a wider spread, indicating more diversity in the data set.