What are the Measures of Variability in Statistics?
What are the Measures of Variability in Statistics? Data is everything in AI today. Knowing the middle value—like mean or median—is good, but we also need to know how much the data spreads. Let's take a look about different measures of variability: range, variance, standard deviation, and interquartile range. This is in continuation to understanding Central Tendency of data (If you have not already read that post, Have a quick look at “ What is Central Tendency? ”). What is Variability? Variability shows how far data points are from each other or the center. For example, If we say a data set has a mean of 11.4 doesn’t tell us if numbers are close to it or all over. In AI, spread matters—big swings might mean bad data for a model. For example, In any application different job run times spread could show system issues. We measure variability with: Range Variance Standard Deviation Interquartile Range Let’s use...